Taxes

The Inflation Reduction Act, or IRA, extended and expanded tax credits PDF that allow taxpayers to claim residential and energy efficient home energy credits.

The checks will be delivered to families who received the Empire State Child Credit in the 2023 tax year. Filers are eligible for the credits if they have children under age 17 and qualify for the federal child tax credit.

The measure wouldn’t affect separate R&D credits, but it would restore companies’ ability to claim full deductions for research expenses in the first year, something a broad coalition of industries has been angling for since that tax break got less generous at the start of 2022.

About one third of the total dollars collected from undocumented immigrants funded programs they’re mostly barred from using, including $26 billion to Social Security and $6 billion to Medicare, the report said.

The case will go before the state's Supreme Court after a lower court ruled earlier this year that the tax is unconstitutional.

SafeSend's Next Gen Gather AI feature aims to create a new standard for the "Tax Ready" process by addressing these critical issues.

Each taxpayer saves an average of $41,700 through the firm’s use of TaxPlanIQ’s advanced tax planning software.

The AICPA expressed its endorsement of provisions of H.R. 8864, the Tax Administration Simplification Act, which would apply the mailbox rule to electronically submitted tax returns and payments.