Tax credits

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.

Members of Congress are proposing bipartisan legislation to extend the deadline for Paycheck Protection Program loans another two months as accountants press for more time on the expiring program.

The legislation includes a massive, one-year expansion to the child tax credit program aimed at curbing child poverty, a change Democrats are already seeking to make permanent.

Mark Luscombe offers an in-depth look at the many tax angles of the American Rescue Plan.

Confusion around the program and other stimulus measures may be preventing small businesses from getting the help they need.

Senate Democrats passed the latest version of the $1.9 trillion stimulus bill after a more than 24-hour voting session that included the longest single vote in the chamber’s history.

The Internal Revenue Service released guidance Monday for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program.

More and more accountants are recommending their homeowner clients consider solar panels. Here’s why.

Two members of Congress teamed up Friday to introduce a bipartisan bill that would offer tax credits for income from tips to beauty salon owners and workers.

The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.

Household employers have seen a rapid increase in labor law requirements, as well as state and municipal paid time off and paid sick leave ordinances.

The House Ways and Means Committee advanced legislation that would infuse households with hundreds of billions of dollars of cash through direct payments and tax credits, a key plank of President Joe Biden’s COVID-19 relief package.

The Internal Revenue Service is girding for the official start of tax season as taxpayers and preparers deal with tax breaks related to COVID-19 and questions about stimulus payments.

A bipartisan group of Senate lawmakers has introduced legislation to make the Work Opportunity Tax Credit a permanent part of the Tax Code.

The GREEN Act would encourage residential investments in green energy and energy efficiency, and incentivize greater adoption of zero-emission vehicles, among other things.

Lawmakers have introduced several measures that would expand the so-called child tax credit, which currently provides parents $2,000 per child annually.

House Democrats on Monday released the first draft text for key pieces of legislation that will comprise President Joe Biden’s COVID-19 relief bill.

Knowing what is required and completing documentation in a timely fashion maximize the company’s opportunity to receive its incentive reward.