The 2024 election year promises to make taxes front-of-mind for many business and individual taxpayers. Beyond the election, there are other note-worthy developments, along with several highly anticipated tax law cases that...more
2/16/2024
/ Child Tax Credit ,
Employee Retention ,
Enforcement Actions ,
Green Energy ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
OECD ,
SCOTUS ,
Tax Code ,
Tax Credits ,
Tax Cuts and Jobs Act
After seemingly bouncing back from the challenges posed by the COVID-19 pandemic and related labor, supply chain, and governmental mandate issues, the hospitality industry experienced a year of volatility in 2023, with...more
2/16/2024
/ Artificial Intelligence ,
Corporate Transparency Act ,
Debt ,
Employee Definition ,
Employee Retention ,
FinCEN ,
Hospitality Industry ,
Insurance Industry ,
Liability ,
Minimum Wage ,
NLRB ,
Popular ,
Ransomware ,
Real Estate Market ,
Reporting Requirements ,
Restaurant Industry ,
Supply Chain ,
Tax Credits ,
Tipped Employees
Yesterday, the chairmen of the Senate Finance Committee and the House Ways and Means Committee introduced The Tax Relief for American Families and Workers Act of 2024 (the Act), which proposes changes to the child tax credit,...more
1/18/2024
/ Child Tax Credit ,
Employee Retention ,
Low Income Housing ,
Proposed Amendments ,
Regulatory Reform ,
Research and Development ,
Senate Finance Committee ,
Tax Credits ,
Tax Relief ,
Taxation ,
Ways and Means Committee
As we discussed in our September 25 alert, Everybody’s Got Something to Hide Except Me and My Monkey: IRS Issues Moratorium on Processing New Employee Retention Credit Claims, the Internal Revenue Service (IRS) previously...more
Projects that produce or recycle wind turbine blades, manufacture energy storage equipment, or refine or blend renewable or low-carbon fuels may qualify for up to a 30 percent tax credit under the Inflation Reduction Act...more
The Inflation Reduction Act of 2022 (IRA), has several primary goals, including: promoting clean energy, manufacturing, and construction through a wide array of tax incentives and grants; raising revenue through the primary...more