Tax credits

Lawmakers introduced two bills that would affect the Child Tax Credit, the Lifetime Learning Credit and marijuana taxes.

Lawmakers are discussing a one-year extension to a tax break for R&D costs that expired at the end of 2021.

The Internal Revenue Service is being urged to pilot test virtual visits with paid tax preparers through videoconferencing technology as a way to reduce the number of errors in claims for refundable tax credits in a new government report.

A senior member of the House Ways and Means Committee has introduced legislation to double the size of the research and development tax credit and enable more small-business startups to claim it.

2022 was a big year of change for the research & development credit.

The senator's opposition to giving clean-energy developers direct payments may significantly reduce the tax credits they could get from Democrats’ reconciliation package.

Senate Democrats have scrapped a $4,500 bonus tax credit for electric vehicles made with domestic union labor as they seek to wrap up negotiations on a spending deal.

As with a theater production involving many different roles, a knowledgeable director is required for a winning performance.

Newly released IR-2022-89 can help business clients avoid tax trouble.

The service has updated its FAQ on the 2021 Earned Income Tax Credit, with new information on using prior tax years to calculate it.

Agents raided the Houston headquarters of the tax consulting firm, seizing computer servers Friday, May 20.

The service also failed to issue $80 million in payments to eligible individuals, according to a new report from TIGTA.

From the tax practitioner perspective, filing season did not look so rosy.

The Internal Revenue Service has revised and updated the answers it previously provided to frequently asked questions on the 2021 Child Tax Credit and Advance Child Tax Credit.

The consulting firm launched REV by Leyton, a digital platform aimed at helping companies find R&D and employee retention credits.

A pair of congressional Democrats want to see a rule finalized that would open up greater access for families to claim premium tax credits for health insurance.

Congress gave billions of dollars in tax credits to employers, but now the IRS needs to step up its compliance efforts, according to a GAO report.

New money and new jobs have positive taxing implications for the host community.

Over 30,000 extra taxpayers may now qualify because of a provision of the American Rescue Plan Act that expanded eligibility.

The Democratic senator pushed back on proposal to expand the popular credit, adding a new obstacle to White House plans for fighting climate change.