Tax credits

Failure to establish nexus may undermine a bid for research and development tax credits.

The Internal Revenue Service isn’t doing enough to flag over $74 million in potentially erroneous claims for the Excess Social Security Tax Credit, according to a new report.

Congressional witnesses called for more certainty around the provisions.

Reps. Terri Sewell, D-Ala., and Tom Reed, R-N.Y., and Senators Ben Cardin, D-Md., and Roy Blunt, R-Mo., have introduced bipartisan legislation to make the New Markets Tax Credit permanent, in an effort to encourage private investment in low-income rural communities and urban neighborhoods.

Education Secretary Betsy DeVos is riding to the rescue of a private-school tax break that was ensnared in a bitter fight between the Treasury Department and Democratic states that sought to circumvent caps on state and local deductions under the Trump tax overhaul.

Small, young companies could be eligible for up to $250,000 in payroll tax savings.

The Treasury Inspector General for Tax Administration released a report on the results of this past filing season.

A new TIGTA report finds the agency isn’t making sure companies are eligible to claim the R&D credit or are claiming the correct amount.

The company sold more than 200,000 eligible cars, so the taxpayer credit will start shrinking.

Senate Finance Committee Chairman Orrin Hatch questioned President Donald Trump’s call to end a tax break for electric cars made by General Motors Co. and others following the company’s announcement that it would lay off workers and close plants.