In the November 2022 Autumn Statement, the Chancellor announced significant changes to the current Research and Development (R&D) tax reliefs. The key announcements were a change to the applicable rate of the Research and Development Expenditure Credit (RDEC) and a... Read More
Taxpayers earning income from selling goods or providing services may receive a Form 1099-K, Payment Card and Third-Party Network Transactions, for the first time in early 2023, when the 2022 forms are due. The requirement to file Forms 1099 have... Read More
The Inflation Reduction Act of 2022 (H.R. 5376, the “IR Act”) contains numerous incentives and support for energy transition efforts in the United States. This includes expanding on the predominately-public funding mechanisms for infrastructure projects set forth in the Bipartisan... Read More
A major tax, climate change and healthcare bill passed the Senate in a rare Sunday session on August 7 on a strict party line. The Inflation Reduction Act of 2022 won approval on a 51-50 vote, with all Democrats voting... Read More
In a rare bipartisan move, Congress has passed legislation to boost the US semiconductor manufacturing industry; the legislation includes an advanced investment credit for producing semiconductors and the tooling equipment required in their manufacture. The CHIPs and Sciences Act of... Read More
Moving your retirement money around is now easier than ever. In a conciliatory move for taxpayers, the IRS has issued new rules that allow you to minimize your tax liability when you move 401(k) funds into a Roth IRA or... Read More
The IRS has announced that it is sending out letters to Qualified Opportunity Funds (QOFs) and their investors requesting more information to certify eligibility. Read More
Tax-related identity theft is a continuing problem, although the IRS and taxpayers have gotten much better at combating it in the last few years. Read More
The Treasury Department reported a surprise federal budget surplus of $308 billion for April 2022. Learn more about it and it's implications. Read More
Georgia Governor Kemp signed HB 1058 making it easier for affiliated corporations to file Georgia consolidated income tax returns. Read More
