Tax credits

The bipartisan infrastructure bill that the House passed over the weekend and sent to President Biden’s desk includes some tax-related provisions, including an early expiration of the Employee Retention Tax Credit and new rules for reporting on cryptocurrency transactions.

The $1.75 trillion package marks a dramatic shift toward boosting support for families with children.

The Section 179D incentive would jump from $1.80 per square foot for efficiency improvements to a sliding scale between $2.50 and $5.

Economic development credits and incentives programs traditionally are applied to two areas: new investment and new jobs.

Under the 2017 Tax Cuts and Jobs Act, R&E expenses paid or incurred after 2021 must be capitalized and amortized over five years (15 years if research is performed overseas).

The Democratic Senator said there’s little chance that Congress can complete work on President Biden’s economic agenda by the end of the month.

The Internal Revenue Service’s Office of Chief Counsel is spelling out new requirements for information from companies submitting claims for research credit tax refunds to prove they’re valid.

An open letter last week expressed bipartisan opposition to proposals to retroactively end the credit before the end of the fourth quarter.

It can help firms and clients improve their bottom line, while boosting diversity, team morale and community relations.

Lawmakers are seeking to extend the recently expanded tax break through 2025, endorsing a key component of the president’s social safety net plan.

The IRS's strategy for examining claims for the Earned Income Tax Credit are falling short, according to a new report.

Planning should involve consideration of economic credits and incentives, which focus on future savings and future growth goals.

The Ways and Means Committee voted to approve 12 weeks of paid family leave and a mandate to enroll employees in retirement accounts.

Certain firms are aggressively marketing the research credit to taxpayers who don’t qualify in the first place.

America’s poorest families are using new child benefits in large measure to climb out of debt, much of it likely accumulated during the pandemic.

As a tax accountant, it is your job to help your clients track their payments online and receive the money as soon as possible.

The Internal Revenue Service added a new feature Friday to its online portal for the Child Tax Credit allowing parents to update the mailing address where they should receive the monthly payments.

Declines in income and boosts to government subsidies wiped away tax liabilities.

The Senate Finance Committee chair introduced legislation with tax credits aimed at ending homelessness and providing affordable housing.

Padgett Business Services and NCCPAP have spotted areas where the Employee Retention Credit may be hurting small businesses.