Tax credits

The IRS started processing claims received prior Sept. 14, 2023, and has an inventory of 1.4 million ERC claims totaling more than $86 billion.

Republicans in the Senate stopped a $78 billion package of tax cuts benefiting businesses and low-income families, two constituencies the party needs to win big in November.

Senate Majority Leader Chuck Schumer, D-New York, announced plans to bring up a vote on the Tax Relief for American Families and Workers Act later this week.

Double-dipping on wage claims and saying masks disrupted operations are just two new hallmarks of bad Employee Retention Credit claims.

The Internal Revenue Service issued a notice with initial guidance on claiming a tax credit involving carbon sequestration.

Accounting firms are helping clients navigate the tax incentives available under the Inflation Reduction Act.

The IRS warned about bad advice that's being peddled on social media promoting a bogus "Self Employment Tax Credit" and prompting unsuspecting taxpayers to file false claims for the credit.

Notice 2024-49 and a new set of frequently asked questions from the Internal Revenue Service offer more clarity around the credit.

The Internal Revenue Service has stepped up efforts to combat dubious tax advice promoting schemes involving the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes.

The Internal Revenue Service issued a warning cautioning taxpayers to beware of a new scam involving the purchase of clean energy tax credits.