Tax credits

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.

The IRS's Large Business and International Division is providing companies that claim tax credits for renewable energy and electricity projects an expedited way to report them.

The end of Chevron deference, shifting IRS policies and other major changes to the tax landscape.

The Internal Revenue Service isn't doing enough to help victims of identity theft receive their tax refunds, according to a report from National Taxpayer Advocate Erin Collins, and its statistics on answering phone calls are misleading.

The Internal Revenue Service released a revised draft version of Form 6765, the Credit for Increasing Research Activities, in response to feedback.

The IRS will deny tens of thousands more pandemic-era employee credit claims it deems potentially fraudulent in the coming weeks, as it remains in a holding pattern for processing new claims.

The Internal Revenue Service plans to begin slowly paying some of its older claims for the fraud-plagued Employee Retention Credit this summer, but is not lifting its moratorium.

The Internal Revenue Service is easing the rules for claiming a tax refund tied to a claim for the research and development tax credit.

The confluence of generative AI's boundless potential and the strategic application of the R&D tax credit can be a game-changer for businesses willing to lean into innovation.

The Treasury Department and the Internal Revenue Service released prevailing wage and registered apprenticeship requirements for clean energy projects and jobs to qualify for tax credits under the Inflation Reduction Act.

The proposed rules on the Clean Electricity Production Credit and the Clean Electricity Investment Credit aim to spur renewable energy development.

The Internal Revenue Service is accepting applications for the Low-Income Communities Bonus Credit Program through June 27.

The Internal Revenue Service cautioned consumers to beware of inaccurate advice which prompted thousands of taxpayers to file overblown claims and held up their refunds.

The Internal Revenue Service and the Treasury Department plan to issue regulations on the interplay between foreign tax credits, dual consolidated losses and OECD rules.

Plus, Estateably touts new accounting tools for estate planning; and other accounting tech news and updates.

The Biden administration gave carmakers a partial reprieve in finalizing electric-vehicle tax credit rules intended to loosen China's grip on battery materials crucial to the car industry's future.