Tax credits

AI and automation can streamline R&D work but cannot replace professional judgment or Circular 230 due diligence.

The IRS is continuing to challenge and audit claims for the Employee Retention Credit, extending the yearslong backlogs on processing the often dubious claims.

The Financial Accounting Standards Board decided to add several projects to its technical agenda.

The administrative approach to R&D credits needs to shift away from the current once-a-year scramble within companies.

New York Governor Kathy Hochul is planning to participate in President Donald Trump's controversial federal school choice program.

One of the nation's largest solar installers filed for bankruptcy last month, citing the phaseout of federal tax credits and Trump's executive orders.

Rep. Kristen McDonald Rivet, introduced the Working Parents Tax Relief Act, which would give parents up to an additional $5,500 per child under the age of four.

The mayor is delaying the city's $127 billion budget as he pressures the state to limit a pass-through entity tax credit used by financial businesses.

The IRS announced a streamlined way for Employee Retention Credit claimants to extend the two-year deadline to file a refund suit after a claim disallowance.

The Internal Revenue Service is offering taxpayers a new option to request more time to review a disallowance of an Employee Retention Credit claim.

Small businesses that don't qualify for a payroll tax break are still receiving it, despite the IRS's efforts to stop them, according to a new report.

U.S. states are moving to establish a pipeline of large-scale renewable energy projects that can qualify for billions of dollars in expiring federal tax credits.

For tax years 2023 and 2024, 45,386 returns claimed about $172 million in tax credits that ITIN holders were not eligible to receive.

Efforts to take advantage of the dramatic expansion of the Low-Income Housing Tax Credit have bumped up against some unintended consequences, say investors and developers.

Normally, election years are not very active years for tax legislation ... but there are signs this might not be a normal year.

The confusion over pending Employee Retention Credit claims is bad. The situation for disallowed claims is much worse.

The IRS issued Recovery Rebate Credits for the pandemic to nearly 301,000 ineligible taxpayers, many of whom were either immigrants or received extra payments.

Lawmakers in Congress have their eyes on several pieces of tax-related legislation that may or may not get passed this year, though the upcoming November midterm election is bound to affect any possibility of the bills advancing.

The Trump administration's interim guidance on clean energy tax credits offered some relief to the industry by laying out a manageable path for new projects.