Taxes
IRS Issues Guidance on Tax Credit for Clean Hydrogen Production
The Inflation Reduction Act (IRA) of 2022 provides a production credit for each kilogram of qualified clean hydrogen produced by a taxpayer at a qualified clean hydrogen production facility.
Georgia Tax Preparer Gets 2 Years in Prison for Tax Evasion
The professional tax preparer was accused of omitting $1.28 million in income from his own tax returns.
Judge Rules on Michigan Income Tax Cut
A temporary cut to Michigan’s income tax will not be made permanent under a judge’s ruling this week.
IRS Waiving $1 Billion in Back Tax Penalties for More Than 4.7 Million Taxpayers
Just in time for the holidays, the IRS announced a move to help individuals, businesses, and tax-exempt groups that owe back taxes.
A PIG in a Poke – How to Use a Passive Income Generator Strategy
Instead of deals designed to generate losses in the formative years of a limited partnership, a PIG is set up to start churning out income right away.
Increasing Scrutiny on States’ Sales Tax Compliance
While South Dakota v. Wayfair changed the foundation of sales tax more than five years ago, the ripple effects are still as strong.
Three Ways to Cut the Tax Stress of RMDs
Managing your required minimum distributions is the key to advanced tax planning and may save you significant taxes in retirement.
Clean Vehicle Credits Under the Inflation Reduction Act
If purchasing a new electric vehicle after Aug. 16, 2022, final assembly must take place in North America to qualify.