Tax credits

Final rules have been released for claiming the rehabilitation credit under the Tax Cuts and Jobs Act.

The Internal Revenue Service plans to correct penalties mistakenly levied on employers who reduced their tax deposits because they expected to claim some of the new tax credits to which they’re entitled.

President Donald Trump said he’ll punish American companies that move jobs abroad and reward firms with tax breaks for shifting work from China to the U.S., proposals aimed at hastening the decoupling of the world’s largest economies.

Among the pandemic-related issues covered are how to handle the Paycheck Protection Program and other stimulus efforts.

The GOP legislation includes a second tranche of stimulus payments, structured the same way as the earlier round, in March, along with tax credits for businesses.

New regulations to help employers reconcile any advance payments of refundable employment tax credits and recapture the benefit of these credits when necessary, in line with the CARES Act and the Families First Act.

Senate and House Republicans introduced legislation that would give businesses refundable tax credits against payroll taxes to meet some of the expenses associated with reopening during the novel coronavirus pandemic.

The Internal Revenue Service said Wednesday it has begun to send letters to taxpayers who are seeing delays in the processing of their Form 7200, Advance Payment of Employer Credits Due to COVID-19.

By incentivizing businesses to rehire employees laid off or furloughed due to COVID-19, states will generate a faster economic recovery and provide valuable assistance for companies to get back on their feet.

The Internal Revenue Service is extending timelines for performing some of the actions associated with the low-income housing tax credit and bonds for qualified residential rental projects to give businesses more time during the COVID-19 pandemic.

The IRS and the Treasury gave tax relief to businesses and investors who were engaged in New Markets Tax Credit transactions but couldn’t get them done in time due to the COVID-19 pandemic.

The Internal Revenue Service recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology.

In response to the coronavirus, the Internal Revenue Service and the Treasury are giving renewable energy companies more time to develop projects using sources such as wind and geothermal.

For decades, the credit has been subject to a wide gulf of interpretation and hence is an issue ripe for adjustments.

Research credits could look very different for some companies in 2020 compared to other years.

Equip your boots on the ground to recognize R&D worthy of credit.

House Democrats proposed a $3 trillion virus relief bill Tuesday, combining aid to state and local governments with direct cash payments, tax breaks, expanded unemployment insurance and food stamp spending as well as a list of progressive priorities like funds for voting by mail and the troubled U.S. Postal Service.

The decision, prompted by requests from a bipartisan group of lawmakers, reverses previous IRS guidance.

Leaders of Congress’s tax-writing committees want employers to be able to continue providing health insurance to their furloughed employees and still qualify for tax credits.

There's a great deal of help for businesses in the CARES Act and the FFCRA.