Administration Releases New Rules for Voluntary Carbon Credits

Improvements were made to carbon offset policies to ensure delivery of claims. President Biden’s administration announced updates to managing voluntary carbon credits this week, strengthening guidelines for the…

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IRS Improves Phone Service Levels in Current Tax Season

The agency seeks to show the efficacy of additional funding. The Internal Revenue Service (IRS) has shown improved phone response metrics as the tax season kicks off, reportedly…

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IRS to Begin Audits of CEO Company Jet Use

The agency will review business expense claims for private travel. The Internal Revenue Service (IRS) announced that they are proceeding with tax audits to review the accuracy of…

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IRS Releases Tax Guidance for EV Charging Station Installations

Businesses and homes may file for tax credits for installing stations. The Internal Revenue Service (IRS) released additional guidelines for tax credits granted to recent installations of electric…

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Legislators Work Deal to Expand Child Tax Credit 

A “bipartisan, bicameral” framework also contains other provisions.  Senator Ron Wyden of Oregon, chairman of the Senate Finance Committee, and Representative Jason Smith of Missouri, who chairs the…

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IRS Releases Clean Energy Investment Tax Credit

The agency publishes guidance documenting details for investors. The Internal Revenue Service (IRS) has released guidance that outlines the requirements for receipt of the clean energy tax credit.…

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DOE Opens Solar and Wind Tax Credit for Low-Income Communities

Applications are now open to receive bonus investment credits. The Department of Energy (DOE) recently opened applications for their Low-Income Communities Bonus Credit Program. Eligible organizations can apply…

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Treasury Releases Final Guidance for Coal Town Transition Credits

The department gives a 10% tax credit boost to domestic “energy communities”. The Department of the Treasury released its final guidance for clean energy project tax credits solidifying…

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Treasury Moves to Make More EVs Eligible for Tax Credits

The department will use EPA consumer guide instead of the Corporate Average Fuel Economy. The Department of the Treasury has announced the expansion of the electric vehicles eligible…

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IRS to Increase Standard Deductions for 2023

They are responding to pressures of inflation.  The Internal Revenue Service announced Tuesday that it is raising the income threshold for all tax brackets and will also increase…

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