Tax credits

The state approved incentives for major films by two of Hollywood’s biggest studios.

Four family members belonging to a Utah polygamist group admitted defrauding the U.S. of $512 million in renewable-fuel tax credits, with the leader saying the mastermind was an Armenian immigrant who owns a small oil and gas empire in Southern California. That businessman now faces trial alone.

The Internal Revenue Service issued some clarifications on an agreement with the French government not to challenge foreign tax credits for certain kinds of tax payments in France.

Nina Olson also suggested different ways to increase the participation rate of eligible taxpayers in claiming the Earned Income Tax Credit.

Extending tax breaks that are intended to benefit families and small businesses come with a steep cost, according to Congress’s nonpartisan scorekeeper.

About $18.4 billion in bad payments were made on the refundable credit in 2018.

Extension a tax incentive for electric vehicle purchases could cost up to $15.7 billion, according to an analysis prepared by opponents.

Tax credits worth billions of dollars for the wind and solar industries are set to expire or begin phasing out next year — part of a 2015 deal Democrats struck that ended a 40-year-old ban on the export of crude oil.

The bipartisan legislation aims to expand retirement savings by offering more tax incentives to individuals and small businesses.

The senator said she’d seek to repeal all of the tax overhaul, including its breaks for wealthy earners, corporations and the middle class.