Tax credits

The Internal Revenue Service is paying out more claims for the Employee Retention Credit program even as it gives them greater scrutiny.

Claims for the Residential Clean Energy Credit averaged $5,084 per tax return.

A letter from 18 Republican representatives told Speaker Mike Johnson not to repeal the

The IRS started processing claims received prior Sept. 14, 2023, and has an inventory of 1.4 million ERC claims totaling more than $86 billion.

Republicans in the Senate stopped a $78 billion package of tax cuts benefiting businesses and low-income families, two constituencies the party needs to win big in November.

Senate Majority Leader Chuck Schumer, D-New York, announced plans to bring up a vote on the Tax Relief for American Families and Workers Act later this week.

Double-dipping on wage claims and saying masks disrupted operations are just two new hallmarks of bad Employee Retention Credit claims.

The Internal Revenue Service issued a notice with initial guidance on claiming a tax credit involving carbon sequestration.

Accounting firms are helping clients navigate the tax incentives available under the Inflation Reduction Act.

The IRS warned about bad advice that's being peddled on social media promoting a bogus "Self Employment Tax Credit" and prompting unsuspecting taxpayers to file false claims for the credit.