Tax credits

For tax years 2023 and 2024, 45,386 returns claimed about $172 million in tax credits that ITIN holders were not eligible to receive.

Efforts to take advantage of the dramatic expansion of the Low-Income Housing Tax Credit have bumped up against some unintended consequences, say investors and developers.

Normally, election years are not very active years for tax legislation ... but there are signs this might not be a normal year.

The confusion over pending Employee Retention Credit claims is bad. The situation for disallowed claims is much worse.

The IRS issued Recovery Rebate Credits for the pandemic to nearly 301,000 ineligible taxpayers, many of whom were either immigrants or received extra payments.

Lawmakers in Congress have their eyes on several pieces of tax-related legislation that may or may not get passed this year, though the upcoming November midterm election is bound to affect any possibility of the bills advancing.

The Trump administration's interim guidance on clean energy tax credits offered some relief to the industry by laying out a manageable path for new projects.

The Trump administration issued new guidance on the use of foreign materials and components in U.S. clean energy projects.

The IRS and Treasury plan to propose regulations restricting energy-related tax credits when "prohibited foreign entities" provide material assistance.

The Internal Revenue Service has now closed nearly all outstanding claims for the employee retention credit aside from 41,000 claims still under exam or appeal.

The U.S. Tax Court ruled that innovations in livestock production can qualify for the research and development tax credit, establishing new case law.

The Internal Revenue Service and the Treasury released proposed regulations on the clean fuel production credit under the One Big Beautiful Bill Act.

The California governor wants to restart offering tax rebates for electric vehicles that are purchased in the state.

Postmarks and donations; tuning up your comp system; please, Santa…; and other highlights from our favorite tax bloggers.

The carryovers range from some $2.4 million in California and some $1.9 million in Texas to $44,851 in Alaska and $39,297 in Vermont.

The rebellion comes after Johnson blocked swing-district Republicans from having a floor vote this week on their plan for the premium tax credits.

Speaker Mike Johnson will block a push by moderate House Republicans for a vote on renewing expiring Obamacare subsidies.

There have been significant changes in the way in which the IRS is now dealing with R&D tax credits and viewing how they're documented.

The IRS is reminding taxpayers and tax practitioners of the changes to the credit from this year's big tax legislation.

Republicans already hit hospital finances in their massive tax and spending package this summer that included cuts to Medicaid.