Tax credits

The Internal Revenue Service is urging businesses that have filed claims for the Employee Retention Credit to make sure they didn't incorrectly claim the credit and to come forward if they did.

Exxon Mobil Corp. won't move forward with one of the world's largest, low-carbon hydrogen projects if the Biden administration withholds tax incentives for natural gas-fed facilities.

Arvo Tech, a tax strategy technology provider for small businesses, has acquired Mark Murphy & Associates and Lee & Associates.

The fate of the Child Tax Credit is in the hands of the Senate, but the IRS is ready to implement changes rapidly if the bill is passed.

The IRS has released two new sets of regs and guidance on different credits.

The Internal Revenue Service's Criminal Investigation unit has been investigating bogus claims for the Employee Retention Credit and educating tax pros about the problems they can encounter.

Schneider Electric will pay $80 million to acquire tax credits, which in turn will help fund four Engie North America projects that are slated to come online in Texas this year.

The Internal Revenue Service would be able to implement changes to the Child Tax Credit within weeks, IRS Commissioner Danny Werfel told Congress, and send out tax refunds promptly.

The IRS wants to help businesses know when they don't qualify for an Employee Retention Credit.

While passage in the Senate is uncertain, many of the changes could impact 2023 tax returns.