Tax credits

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.

A refundable tax credit would carry the same budgetary impact but boost homeownership among lower and middle-income households, a new study says.

The Treasury Inspector General for Tax Administration completed thousand investigations over the past six months that contributed to more than $6.1 billion in tax savings.

Entities that co-own clean energy projects can access clean energy tax credits through elective pay, according to the IRS.

The Internal Revenue Service is extending the transition period for revising claims for the research and development tax credit through Jan. 10, 2026.

California Governor Gavin Newsom is promising to step in with a state electric-car tax credit if Trump repeals a federal subsidy after he takes office.

If the incoming Trump administration eliminates the $7,500 federal tax credits for electric vehicles, that would mean the end of popular leases.

If your clients thinking of buying an electric car or an energy-saving heat pump eligible for federal tax credits and rebates, now might be the time.

Although no Republicans voted for the measure two years ago, some of its incentives, such as tax credits for producing hydrogen and capturing carbon dioxide, are very popular with oil companies and other core GOP constituencies.

What looks like a domestic triumph is also a win for America's primary industrial and geopolitical rival.