Tax credits

The IRS has updated and added new guidance for claiming the Energy Efficient Home Improvement Credit and the Residential Clean Energy Property Credit.

The Internal Revenue Service is making some changes this tax season in an effort to combat tax scams in areas like the Fuel Tax Credit.

The tax incentive that took effect on Jan. 1 is part of President Joe Biden's signature climate law, the Inflation Reduction Act.

Proposed new rules were issued for the tax credit for qualified commercial clean vehicles, along with guidance on claiming tax credits for clean fuel.

Taxpayer Advocate Erin Collins released her annual report, highlighting improvements in taxpayer service, but pointing to persistent delays.

The Treasury Department and the Internal Revenue Service released final rules for the Clean Electricity Investment and Production Tax Credits in Sections 45Y and 48E of the Tax Code.

EV sales grew 12% in the fourth quarter of 2024, pushing the full-year total to a record 1.3 million.

The proposed instructions relate to filing for the research credit.

The agency will send out checks for up to $1,400 to taxpayers who didn't claim the Recovery Rebate Credit.

Having the White House, House and Senate all in control of the same party increases the likelihood that major tax legislation can be agreed upon.