IRS Highlights New Business Tax Account Features, FS-2024-27
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe Treasury and IRS in partnership with the Department of Energy (DOE) reported remarkable demand in the initial application period for solar and wind facilities. Within the first 30-day window, the Inflation Reduction Act’s Low–income communities Bonus Credit Program received over 46,000 applications for new energy facilities. The applications were either as part of affordable housing or directly benefiting low–income household across the country.guidance, The program allocates 1.8 gigawatts of capacity available through competitive application for the 2023 program across four categories of qualified solar or wind facilities with maximum output of less than five megawatts. The applications for 2024 represent more than four times the total capacity available for the 2023 program.
The program was designed to encourage participation by the communities most impacted by energy insecurity by setting aside 50-percent of the program’s capacity for projects that meet additional criteria. “One of the goals of President Biden’s Inflation Reduction Act is to ensure all Americans benefit from the growth of the clean energy economy,” said Deputy Secretary of the Treasury Wally Adeyemo. Meanwhile, applications for the 2023 program year are still being accepted on a rolling basis. Updates about how much capacity is available by category for 2023 can be accessed from the new dashboards on the DOE window.
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]
Read MoreThe IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]
Read MoreThe IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]
Read MoreThe IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]
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