Tax credits

Both houses of Congress have passed budget resolutions — but they have passed very different budget resolutions.

The Trump administration has been rapidly backing away from the various green energy tax incentives offered under the Biden administration.

Major changes are afoot for companies that want to claim the research tax credit.

Automakers are lobbying against lawmakers immediately ending popular electric-vehicle tax credits that President Trump has railed against.

A $400 billion green bank for clean energy projects and a consumer tax credit for electric vehicles are being reviewed under a government-wide spending freeze.

The charges include filing for over $600 million in false Employee Retention Credits and other funds.

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.

The Inflation Reduction Act extended the tax incentives for clean energy development project developers, and the new rules add more clarity.

Republicans represent congressional districts with 19 of 25 major automaker battery and EV assembly plants in operation or under construction.

With changing tax regulations and incentives, staying informed about the latest updates is crucial for optimizing client outcomes.

President Joe Biden also warned that Donald Trump's plans to extend tax cuts and reshape global trade through tariffs risked reversing economic gains.