New retirement plan distribution options introduced by SECURE 2.0
SECURE 2.0 provides new opportunities for plan participants to take retirement distributions without incurring early withdrawal penalties.
Understanding energy rebates tax treatment
Navigating the tax landscape: Understanding DOE Home Energy Rebate Programs.
ASC 740: Q1 2024 provision considerations
Tax law and financial reporting considerations for first quarter 2024 tax provisions accounted for under ASC 740.
Energy community bonus credit: New guidance broadens eligibility
New guidance on the energy community bonus credit amount offers clarity for taxpayers seeking to identify eligible communities.
Credits and incentives available to retirement plan sponsors
Employers with less than 100 employees who have recently adopted or are considering a retirement plan have a tax savings opportunity.
The IRS urges businesses to review ERC claims for 7 common red flags
IRS urges employers to review ERC claims before the Voluntary Disclosure Program deadline of March 22, 2024. The agency warns of 7 common signs ...
Bad debt tax deduction method proposed for financial institutions
Banks and insurance companies would see a simplification of their tax reporting of credit losses under proposed regulations.
IRS issues guidance on statutory exceptions to domestic content requirements
The IRS released guidance for applicable entities to claim the statutory exceptions to phaseout of domestic content requirement for energy credits
The IRS launches the pre-filing registration tool for clean energy credits
The IRS has launched the pre-filing registration tool enabling taxpayers to monetize clean energy credits under the IRA/CHIPS. The IRS released ...
New York finalizes broad changes to corporate tax rules
New York's long-anticipated corporate tax regulations addressing 2014 tax reform and general modernization to the state's tax code are final.
Advanced manufacturing production credit proposed regulations issued
The section 45X advanced manufacturing production credit incentivizes the manufacturing of components used in energy projects.
IRS will use AI to help target partnerships and high net worth individuals
The IRS announced a sweeping enforcement effort that will engage AI to focus on large partnerships and wealthy individuals.
IRS delays implementation of lower $600 reporting threshold for 1099-K
New IRS notice 1099-K for small vendors will be subject to existing requirements for TY 2023, followed by a phased-in approach.
New IRA energy credit guidance
New ITC regulations address tax credit for solar, energy storage, geothermal, biogas, CHP and microgrid controller property
IRS issues guidance on the transfer of clean vehicle credits
The IRS and the Treasury Department have released guidance on how buyers can transfer clean vehicle credits to dealers at the time of purchase.
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