Tax credits

The 2022 law created two new credit delivery mechanisms, allowing governments, nonprofits and other entities to take advantage of the credits.

GOP members of Congress are demanding answers from the service about the backlog in processing claims for the credit, only weeks after the IRS imposed a moratorium.

Eleven states have created or expanded a fully refundable child tax credit following the expiration at the end of 2021 of the federal measure, which enabled families to get as much as $3,600 per child.

The Treasury Department is in the midst of writing rules for how it will distribute the measure's tax credits from hydrogen projects to low-carbon aviation fuel, but work on that guidance could grind to a halt if the government closes.

The service released information on two energy-related tax breaks under the Inflation Reduction Act.

The service is encouraging employers to work with qualified tax professionals rather than shady promoters.

The revised Form 6765 could help both the IRS and taxpayers avoid lengthy audits involving faulty claims.

Tax credits for home improvements in the Inflation Reduction Act may prove a major boon for taxpayers.

Anxiety is growing over the pace of work to develop critical guidance on a slew of clean energy tax credits in the Inflation Reduction Act.

The service said Monday it plans to lower its audit rate of low-income taxpayers, even as some criticize its ability to protect taxpayer information.