Posts Tagged ‘Tax Credits’
Understanding The R&D Tax Credit And How To Claim It
The R&D tax credit is a valuable incentive provided by the government to encourage businesses to invest in research and development activities. It is a tax break that rewards companies for their innovation and technological advancements. Understanding the R&D tax credit is important to make sure you claim what you’re entitled to. So, how does…
Read MoreIRS Fact Sheet Causes Reporting Confusion
Congress created pandemic-related sick and family leave refundable credits for eligible employers. The rules apply slightly differently for leave taken 1) before April 1, 2021 (“Initial Period”) and 2) from April 1, 2021 through September 30, 2021 (“Voluntary Period”). In each period, the IRS allowed eligible employers to retain an amount of the payroll taxes…
Read MoreChild Tax Credit: Everything You Need to Know
The Tax Cuts and Job Act of 2017 introduced sweeping reforms to United States tax law. It affected individual income taxes by expanding standard deductions and providing an alternative minimum tax. The IRS predicted that the changes would decrease the average time taxpayer’s take to complete their returns by 4-7%. They also estimated it would…
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