Taxes April 24, 2025
How CPAs Can Maximize the Impact of Clean Energy Tax Credits
Accountants can play a crucial role in helping their clients take full advantage of the Inflation Reduction Act's clean energy tax credits through strategic planning.
Taxes April 22, 2025
California Could Give Tax Credit to Businesses for Cleaning Up After Homeless
Sacramento Assemblywoman Stephanie Nguyen, D-Elk Grove, highlighted a new bill this week that would give a tax credit to business owners who say they have to spend money cleaning up after people who camp out on or near their properties.
Taxes April 11, 2025
Tax Time Triggers Fraud Alarms for Some Obamacare Enrollees
Tax season is when some consumers learn they were fraudulently enrolled in an Affordable Care Act plan or switched to a different one without their knowledge.
Taxes March 29, 2025
Happy 50th Birthday to the Earned Income Tax Credit
A component of the Tax Reduction Act, the EITC was signed into law by President Gerald Ford on March 29, 1975, and has become one of the federal government's largest anti-poverty programs.
IRS March 26, 2025
IRS-CI Has Kept Busy Investigating COVID, ERC Fraud Cases
The IRS Criminal Investigation unit has launched 2,039 tax and money laundering cases related to COVID fraud, with attempted fraud in these cases totaling $10 billion, since the CARES Act was signed into law in March 2020.
Taxes March 19, 2025
Child Tax Credits, a Longtime Liberal Priority, Find Favor in Republican States
If an Indiana or Ohio bill passes, it would mark the first time a GOP-led state implemented a refundable child tax credit.
Taxes March 17, 2025
Examining the Impacts of President Trump’s ‘Unleashing American Energy’ Executive Order on Clean Energy Tax Credits
Since the “Unleashing American Energy” and “Regulatory Freeze Pending Review" executive orders were issued, there has been much speculation on how they will impact green energy funding and incentives—especially via tax credits—in the Inflation Reduction Act.
Taxes March 13, 2025
Navigating Form 6765: What CPAs Must Know for R&D Tax Compliance
By staying ahead of the recent changes the IRS made to Form 6765, accountants and other tax professionals can help businesses maximize their R&D credits while minimizing the risk of IRS audits and compliance issues.
Taxes December 23, 2024
IRS Asks for Feedback on Draft Instructions for R&D Tax Credit Form 6765
The IRS on Dec. 20 released the draft Instructions for Form 6765, Credit for Increasing Research Activities, and is seeking feedback on proposed changes to the form, which is used by taxpayers to claim the research and development tax credit.
Taxes June 21, 2024
New Draft Form of Form 6765 Released: Credit for Increasing Research Activities
Section G, which was labeled “Section F” in the version of the form that IRS shared last fall, requests the Business Component Detail.