Tax credits

Senator Mitt Romney is offering a child tax credit expansion plan similar to a proposal President Joe Biden is pushing to include in the next stimulus bill, offering a glimpse of areas on which Republicans and Democrats could find compromise in a bipartisan package.

Tax professionals rate which of the president’s proposals they expect to see him pursue.

Democrats are pushing a tax cut that would benefit individuals who lost their jobs in 2020 and may be in for a surprise tax bill this spring.

The Consolidated Appropriations Act includes a surprising number of tax provisions, many of which had not been widely publicized until the final bill was up for a vote.

There’s debate within the administration about how to meet President Biden's promise to issue Americans another $1,400 each in stimulus checks.

Our panel of experts have identified these 12 credits, deductions and more as worth particular attention this year.

The Internal Revenue Service is clarifying its guidance on provisions of the coronavirus relief legislation providing tax credits to employers offering paid sick leave and family leave to workers.

Senators and House members introduced legislation to help taxpayers survive the pandemic, with tax credits for developers revitalizing homes in “distressed” neighborhoods and enabling small businesses to pay essential expenses.

CPA firms will be in a great position to help their small business clients with the latest round of the Paycheck Protection Program, according to Barry Melancon.

President-elect Joe Biden’s $1.9 trillion COVID-19 relief plan is designed to both pump money into the economy and contain the coronavirus pandemic.

Last month's COVID-19 relief bill has accountants recommending some deductions to clients, and wondering about the applicability of others.

Sen. Ron Wyden, D-Oregon, who is chairing the Senate Finance Committee now that Democrats have won control of the Senate, described some of his policy priorities, including the tax area where his committee has oversight.

President-elect Joe Biden’s plan to pass a multitrillion-dollar economic stimulus package early in his administration faces challenges in a closely divided U.S. Senate, with a potential impeachment trial for Donald Trump that could add to delays.

The Internal Revenue Service and the Treasury Department released final regulations on how businesses can claim a tax credit for use of carbon capture equipment to help the environment.

The bill has far-reaching tax consequences, including in the world of specialty tax.

The Internal Revenue Service and the Treasury Department released guidance that offers an extension of a safe harbor for developers of renewable energy projects located either offshore or on federal land.

The relief bill includes an extension of the 45Q tax credit, which gives companies a tax break for capturing carbon..

In the current economic environment, it could be advantageous for you or your clients to consider a strategic acquisition.

Tucked in among more than 5,000 pages of legislative text, the congressional bill providing COVID-19 relief and 2021 government funding includes dozens of tax breaks for beneficiaries ranging from downtown restaurants and the film industry to motor-sports racetracks.

The latest round of coronavirus stimulus legislation includes some major tax provisions and changes for accountants to watch out for in the New Year.