Video Tips: Take Advantage of Your Saver’s Tax Credit
Low- and moderate-income taxpayers can save for retirement now and possibly earn a special tax credit in 2024 and years ahead.
Tax Credit
Claim Your Recovery Rebate Credits Before the Deadlines
The IRS is issuing a reminder to individuals who may be eligible for the Recovery Rebate Credit to submit their tax returns before the deadline.
Saver’s Credit Can Help You Save for Retirement
Low- and moderate-income workers can take steps to save for retirement and earn a special tax credit.
Great News for Employers Who Received Questionable Employee Retention Credits
The IRS has introduced a New Voluntary Disclosure Program that allows employers who received questionable Employee Retention Credits (ERC) to pay them back at a discounted rate.
Beginning in 2024, a special election allows a taxpayer purchasing a new clean vehicle or previously owned clean vehicle, to transfer the entirety of the allowable credit to an eligible (registered) dealer.
Beginning in 2024, a special election allows a taxpayer purchasing a new clean vehicle or previously owned clean vehicle, to transfer the entirety of the allowable credit to an eligible (registered) dealer.
Video Tips: Using Clean Vehicle Credit as a Down Payment Beginning in 2024
As of Jan. 1, 2024, in certain situations, taxpayers will be able to transfer the new and previously owned clean vehicle credits to the dealer to reduce the purchase price or go towards the down payment.
IRS Disallowing 20,000 Employee Retention Credit (ERC) Claims
In its ongoing effort to combat questionable ERC claims, the IRS has sent more than 20,000 letters advising taxpayers that the agency is disallowing their claims.
Employers, Don’t Miss Out on the Work Opportunity Credit
The Taxpayer Certainty and Disaster Tax Relief Act of 2019 extended the Work Opportunity Tax Credit (WOTC) allowing employers who are willing to help disadvanta
IRS Offering a Withdrawal Process for Ineligible ERC Claims
The IRS has created a withdrawal option to help small business owners and others who were pressured or misled by ERC marketers or promoters into filing ineligible claims.
IRS Provides Employers Way to Withdraw Dubious ERC Claims
As part of a larger effort to protect small businesses and organizations from scams, the IRS has announced the details of a special withdrawal process to help those who filed an ERC claim and are concerned about its accuracy.