IRS Programs and Guidance

The Inflation Reduction Act of 2022 (the “IRA”) made several changes to the tax laws allowing owners to transfer certain manufacturing investment, clean energy investment and production tax credits to unrelated third parties or to elect for direct payment in lieu of the tax credit, if certain requirements are met. Among the various requirements set forth in

For years, employees who wanted to diversify the tax treatment of contributions to their 401(k) or 403(b) plan accounts could elect to have their own deferrals made on a Roth basis, but all employer contributions had to be made on a pre-tax basis.  SECURE Act 2.0 changed that, allowing employers to make matching or nonelective employer

On December 21, 2023, the IRS announced the launch of a new voluntary disclosure program for employers that received an Employee Retention Credit (ERC) but were not actually entitled to the ERC. The ERC is a refundable tax credit for certain employers that had employees that were affected during the COVID-19 pandemic.


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