Tax breaks

Estimates suggest that the total of the net operating loss refunds may eventually top $25 billion.

With the passage of so much tax legislation over the past several years, there is tremendous opportunity for savings and planning.

For those with less than $150,000 in adjusted gross income who collected unemployment benefits this past year, the COVID relief bill allows them to receive up to $10,200 of those benefits tax-free.

The new venture enables CPA firms to help small-business owners secure employer-based tax help.

The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief.

The House Oversight and Reform Committee is probing whether executives at four drug industry companies plan to use a pandemic-related tax break to deduct opioid settlement payments.

Maneuvers played out across the country as census tract boundaries were changed to accommodate wealthy investors whose projects fell outside the lines of roughly 8,700 opportunity zones. About 140 tracts grew in size.

More and more accountants are recommending their homeowner clients consider solar panels. Here’s why.

Three House Democrats are pushing legislation that would repeal the carried-interest tax break used by fund managers to reduce the levies they owe to the Internal Revenue Service.

The GREEN Act would encourage residential investments in green energy and energy efficiency, and incentivize greater adoption of zero-emission vehicles, among other things.

Last month's COVID-19 relief bill has accountants recommending some deductions to clients, and wondering about the applicability of others.

The Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month.

The bill has far-reaching tax consequences, including in the world of specialty tax.

The Internal Revenue Service and the Treasury Department released guidance that offers an extension of a safe harbor for developers of renewable energy projects located either offshore or on federal land.

The relief bill includes an extension of the 45Q tax credit, which gives companies a tax break for capturing carbon..

Tucked in among more than 5,000 pages of legislative text, the congressional bill providing COVID-19 relief and 2021 government funding includes dozens of tax breaks for beneficiaries ranging from downtown restaurants and the film industry to motor-sports racetracks.

The House and Senate are set to vote Monday on $900 billion in pandemic relief aimed at boosting the U.S. economy into the early spring, combined with $1.4 trillion to fund regular government operations for the rest of the fiscal year.

Here are some obvious and not-so-obvious year-end tax tips to consider as we prepare ourselves and our clients for the new year.

New York authorities are seeking more records of Donald Trump's company’s communication with an engineer who helped appraise its property.

President Donald Trump spent months on the campaign trail taking credit for “opportunity zones,” a policy meant to encourage investment in distressed communities across the U.S. Joe Biden’s team sees potential in the idea, too.