Tax Incentives

The IRS has issued a safe harbor allowing employers to exclude several sources of government support from their gross receipts calculation when determining eligibility for the Employee Retention Credit (ERC). In related guidance, the agency clears up important questions it... Read More

The production and investment tax credits for renewable energy are a valuable offset for the costs of renewable energy projects but are subject to important timing requirements. The IRS has issued guidance for taxpayers developing renewable energy projects to address... Read More

Increasing the corporate tax rate to 28% is the cornerstone of President Biden’s Made in America Tax Plan, unveiled as part of a proposed $2 trillion infrastructure and jobs program. Other tax provisions target international profit shifting, offshoring incentives and... Read More

The IRS has issued guidance for employers claiming the Employee Retention Credit for the first two calendar quarters of 2021. The American Rescue Plan of 2021 allows eligible employers to claim a refundable tax credit against the employer share of... Read More

The PPP loan program has gotten another boost from Congress in the American Rescue Plan Act of 2021 with an additional $7.5 billion in funding. The latest COVID relief legislation also expands the eligibility of news organizations and non-profits for... Read More

  Update as of 03/12/2021 President Biden’s $1.9 trillion COVID relief bill also known as American Rescue Plan Act of 2021 (H.R. 1319) has become law and extends the Employee Retention Tax Credit (ERTC) through December 31, 2021.    The... Read More

Georgia’s very popular film and TV tax credit has been modified in response to an audit that revealed inconsistent procedures in Georgia Department of Revenue (DOR) audits of tax credits. The new bill, which was signed into law on Tuesday... Read More

The IRS has completed its guidance on implementation of the Opportunity Zones tax incentive. Opportunity Zones offer capital gains tax relief for investments in almost 9,000 economically distressed areas certified by the Treasury Department. The final rules provide clarity in... Read More

An update to the alternative fuel tax credit was among the many changes to tax passed in the December 2019 government funding bill. With this update a taxpayer that uses or sells alternative fuel for use in motor vehicles, motorboats,... Read More

By Tommy Zavieh, CPA, MST, MBA The research and development (R&D) tax credit is underutilized, with many taxpayers failing to claim the credit when they are eligible to do so, or making errors at critical junctures in the process. Underutilization... Read More