Tax credits

The Internal Revenue Service correctly calculated the allowable Recovery Rebate Credit for the vast majority of 2021 tax returns, but some erroneous payments were made, according to a new report.

Energy credits and a more responsive IRS seem to be the main talking points practitioners are hearing about.

Confusion around ever-changing rules, price-sensitivity and other factors have dampened the results of the Inflation Reduction Act's incentives.

The guidance could spur development of renewable energy under the Inflation Reduction Act.

The administration could phase in some requirements in a bid to nurture a nascent industry critical to decarbonizing industrial operations.

The service released information on how taxpayers can claim the energy efficient home improvement credit.

Basis Climate introduced a digital exchange where companies can buy and sell renewable energy tax credits like the kind offered under the Inflation Reduction Act.

With the IRS cracking down, knowing when and how clients can claim the credit — and when they can't — is critical.

Tax experts testified during a hearing about the Employee Retention Credit and the issues they and their clients are facing.

The Internal Revenue Service will be adding extra procedures to deter scammers who have been inundating the agency with bogus claims for the Employee Retention Credit.

The Treasury released partial guidance on supply-chain requirements that lets some vehicles qualify — but it hasn't yet clarified how to classify so-called foreign entities of concern.

The service has updated its systems to detect invalid claims for the Child and Dependent Care Credit and the EITC.

The service posted a fact sheet Friday on tax credits for renewable energy projects under the Inflation Reduction Act.

Two provisions from the Inflation Reduction Act are already having an impact on encouraging this kind of business in the U.S.

A top renewable power trade group endorsed rigorous requirements for a new hydrogen tax credit that would rule out the use of electricity from older wind, solar and nuclear facilities.

The service had to scramble to reconcile the advance payments of the Child Tax Credit it distributed in 2021 with the amounts later reported by recipients.

The IRS has put out proposals on new regs around rules from the two pieces of legislation.

Congress' move to shift $21.4 billion in funding away from the service as a condition for increasing the debt limit isn't deterring the tax agency from its plans.

Panasonic and LG are likely to benefit the most from tax credits under the Inflation Reduction Act.

A wave of new legislative proposals touch on a number of tax-related issues.