Tax credits

Tax credits and incentives advisory firm ETS has scored a minority investment from a venture services firm.

The service is sending 20,000 disallowance letters, with more action and a voluntary disclosure program coming.

The Internal Revenue Service is continuing to combat scammers and promoters encouraging businesses to file claims for the tax credit.

The rules, which aren't finalized, include measures sought by environmentalists that would require hydrogen-production operations to be powered by wind, solar or other clean-power projects built within the last three years to qualify for a $3-per-kilogram credit.

The guidelines set a 25% ownership threshold for a company or group to be classified as a foreign entity of concern.

The Biden administration has discussed granting automakers a temporary reprieve from new rules poised to limit a consumer tax credit, a Michigan senator said Tuesday.

Proposed regulations from the IRS are generally effective beginning in 2024.

Lots of businesses have claimed the Employee Retention Credit who don't actually qualify for it — and in many cases it's going to be up to their accountants to set them right, says Randy Crabtree.

It's imperative now more than ever that businesses understand how to efficiently manage their sustainability investments.

Taxpayers will now have through Jan. 10, 2025, to fix a refund claim.