services tax-credits-incentives-advisory research-development-tax-credits Tax Related Topics 
Cherry Bekaert
APRIL 4, 2023
As a key benefit to growing businesses, Cherry Bekaert can provide support for your organization’s tax credits and incentives requirements. utilizing energy-efficient technologies, LEED® certification, etc.) solar, fuel cell, small wind energy property, geothermal, micro-turbine, etc.)
Cherry Bekaert
JUNE 2, 2023
Two new tax credits were enacted in California, which begin in tax year 2023 and extend through 2027. Cannabis businesses generally cannot deduct business expenses for federal income tax purposes, so to alleviate the tax burden and offset operating costs, California is providing a measure of tax relief for the industry.
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Cherry Bekaert
SEPTEMBER 29, 2023
The Employee Retention Credit (ERC) was created to reward companies that continued paying employees when operations were negatively impacted by the COVID-19 pandemic. The Internal Revenue Service (IRS) released new guidance for how employers may or may not have been impacted by supply chain disruptions during the pandemic.
Cherry Bekaert
SEPTEMBER 26, 2023
On September 8, the Internal Revenue Service (IRS) released Notice 2023-63, providing much anticipated guidance on the application of Section 174. Taxpayers can apply the rules of Notice 2023-63 to tax years ending after September 8, 2023, or apply these rules to an earlier tax year beginning after December 31, 2021.
Cherry Bekaert
OCTOBER 10, 2023
On September 15, 2023, the Internal Revenue Service (IRS) released proposed changes to Form 6765, Credit for Increasing Research Activities, and requested feedback, which is due by October 31, 2023. The proposed updates to Form 6765 require information like that which is required when submitting amended returns.
Cherry Bekaert
APRIL 5, 2023
The Research and Development (R&D) Tax Credit is a federal incentive designed to promote innovation in the design, development and improvements of processes, products and services. For most companies, the R&D tax credit provides a dollar-for-dollar reduction of income tax liabilities.
Cherry Bekaert
JANUARY 22, 2024
Newly proposed legislation, the Tax Relief for American Families and Workers Act of 2024 (the Act) , could potentially move the deadline for the Employee Retention Credit (ERC) claim submissions to the end of January 2024. tax returns for the 2022 tax year. The Act would restore the 12.5%
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