Tax credits

The Internal Revenue Service is extending timelines for performing some of the actions associated with the low-income housing tax credit and bonds for qualified residential rental projects to give businesses more time during the COVID-19 pandemic.

The IRS and the Treasury gave tax relief to businesses and investors who were engaged in New Markets Tax Credit transactions but couldn’t get them done in time due to the COVID-19 pandemic.

The Internal Revenue Service recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology.

In response to the coronavirus, the Internal Revenue Service and the Treasury are giving renewable energy companies more time to develop projects using sources such as wind and geothermal.

For decades, the credit has been subject to a wide gulf of interpretation and hence is an issue ripe for adjustments.

Research credits could look very different for some companies in 2020 compared to other years.

Equip your boots on the ground to recognize R&D worthy of credit.

House Democrats proposed a $3 trillion virus relief bill Tuesday, combining aid to state and local governments with direct cash payments, tax breaks, expanded unemployment insurance and food stamp spending as well as a list of progressive priorities like funds for voting by mail and the troubled U.S. Postal Service.

The decision, prompted by requests from a bipartisan group of lawmakers, reverses previous IRS guidance.

Leaders of Congress’s tax-writing committees want employers to be able to continue providing health insurance to their furloughed employees and still qualify for tax credits.