Tax credits

The Internal Revenue Service is suspending a requirement for taxpayers who received too much on their advance payments for the Premium Tax Credit last year to repay the excess amount.

Dixon Hughes Goodman wants the IRS to provide relief for businesses that are eligible for the 2020 ERC when the tax refunds haven’t yet been received.

Commissioner Charles Rettig left open the possibility that there may be delays.

The Internal Revenue Service is mailing letters to taxpayers explaining why they may not be getting as much of a Recovery Rebate Credit as they were expecting on their taxes.

President Joe Biden is calling for sweeping investment in electric vehicles, renewable power and the electric grid as part of a broad blueprint to bolster the U.S. economy while combating climate change.

The clean energy industry is rushing to hitch a ride on President Joe Biden’s emerging infrastructure plan, which could top $3 trillion.

Many of the temporary tax provisions are expected to be included in President Biden’s next piece of tax legislation later in 2021.

Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. Tax Code in coming months.

The Investment Tax Credit and the Production Tax Credit can provide value in the corporate climate under President Biden.

The new venture enables CPA firms to help small-business owners secure employer-based tax help.