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Elective pay and transferability frequently asked questions: Elective pay

Elective pay and transferability frequently asked questions: Transferability

The Inflation Reduction Act of 2022 allows for increased credit amounts if certain requirements pertaining to energy communities are satisfied. These frequently asked questions provide detail on how areas may qualify as an energy community, how to determine whether a project is located in an energy community and brownfield sites for purposes of the Energy Community Bonus Credit.

Tax Tip 2023-87, July 5, 2023 ¡ª It¡¯s easy to stay up to date on tax information year-round with the IRS verified social media accounts and e-news services. Taxpayers can get tips, guidance and the latest tax law news delivered to their social feed or inbox.

IL-2023-06, Aug. 16, 2023 ¡ª Victims of severe storms and flooding in parts of Illinois that began on June 29, 2023, now have until Oct. 31, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

This page will help you figure out if and how you can apply for the Employee Retention Credit (ERC or ERTC) Voluntary Disclosure Program if you received the ERC but you are ineligible and need to repay it.

Tax Tip 2023-126, Dec. 13, 2023 ¡ª Business taxpayers can file electronically any Form 1099 series information returns for free with IRIS.

November 30, 2023 ¡ª The IRS and its Security Summit partners encourage you to follow these data loss and fraud best practices from the Federal Trade Commission.

Nov. 30, 2023 ¡ª The IRS and its Security Summit partners continue to see identity theft schemes targeting businesses. Report possible business identity theft to the IRS with Form 14039-B, Business Identity Theft Affidavit.

Pursuant to the requirements of the Balanced Budget and Emergency Deficit Control Act of 1985, as amended, refund, credit elections, and refund offset transactions for certain refundable portions of the IRA EPE under Internal Revenue Code section 6417 are subject to sequestration.