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The ability to write off research and development expenses in the first year would be revived if the Senate ever manages to pass the Tax Relief for American Families and Workers Act.
February 28 -
A new analysis forecasts a higher return on investment from the Inflation Reduction Act of 2022, but only if the funding isn't reduced.
February 6 -
What do these changes mean for taxpayers and how can accountants help manage the impact?
January 2Source Advisors -
The Internal Revenue Service has extended some of the deadlines for qualified intermediaries, withholding foreign partnerships and withholding foreign trusts.
December 27 -
The lower 1099-K threshold will produce millions more forms to be sent to taxpayers, and may prompt many to abandon online marketplaces and gig economy jobs.
November 28 -
A short window won't necessarily stop lawmakers from proposing or introducing new legislation, though — if only to position themselves ahead of next November's election.
November 27 -
The legislation incentivizes consumers to buy energy-efficient electric appliances, clean vehicles, rooftop-solar and home energy storage systems.
October 26Briggs & Stratton Energy Solutions -
Commissioner Werfel encouraged Congress to keep the money coming.
October 24 -
The service is trying to leverage the extra funding to collect more taxes, but has spent surprisingly little so far.
October 16 -
The service has been working hard to implement the dozens of tax provisions contained in last year's Inflation Reduction Act, according to a new report.
October 5