Tax credits

Advice from accountants on economic incentives can help bring more tax revenue and employment to communities.

Millions of American families came to depend the advanced credit amid a surge in the cost of living and the continued spread of COVID-19.

The Internal Revenue Service added more information on the Recovery Rebate Credit, providing extra details on its Frequently Answered Questions document about finding the first Economic Impact Payment amounts to calculate the credit.

Progressive Democrats are increasingly resigned to a far narrower version of the economic, tax and social spending agenda they had hoped to pass.

The service has updated the information on its FAQ page for the CTC and advance CTC payments.

The Internal Revenue Service has updated its guidance on claiming the Recovery Rebate Credit and issued a report Friday on how it responded last year to the COVID-19 pandemic.

The Internal Revenue Service expanded the transition period from 30 to 45 days to provide evidence to back up tax refund claims involving the research and development credit, while issuing new guidance.

Sen. Joe Manchin said Tuesday he’s not in talks with the White House or top Democrats on reviving President Biden’s $2 trillion tax and social spending agenda.

Senate Majority Leader Schumer is vowing to bring a revised version of the $2 trillion tax, climate and spending package to a vote as soon as this month.

With the Build Back Better bill at least temporarily stalled, where does that leave research tax credits, cost segregation and energy incentives?

Section 179D can help your commercial real estate clients reduce taxable income and increase cash flow significantly.

The service issued an early-release version this month of instructions for IRS Form 6765, “Credit for Increasing Research Activities.”

The correspondence will include important information for completing their 2021 tax returns.

Handicapping which tax credits and other provisions will stay in the Build Back Better package.

Failure could imperil the backbone of the party’s messaging for the midterm elections.

New reporting requirements and possible amortization are on the way.

Families will soon need to reconcile the money they received against what they can officially claim.

A host of provisions will expire at the end of the year, and there's no telling whether they'll be renewed, says Wolters Kluwer's Mark Luscombe.

For Americans worried about rising prices and shrinking household budgets, January could bring another blow to the bottom line.

The Internal Revenue Service is asking more charities and tax-exempt organizations to file their information returns electronically as required by the Taxpayer First Act of 2019, but its aging systems are experiencing delays that are frustrating tax professionals.