We have good news for those of you who have capitalized on these benefits in the past and were concerned that they were going away for good. THEY’RE BACK! And they’re retroactive so you may claim them for tax year 2017! These claims include: Exclusion from gross income of discharge of qualified principal residence indebtedness… Continue Reading
Archives for February 2018
Preliminary Draft of LCFS Regulations to be Posted Today
Over the last two years we have been following CARB through draft regulation documents, webinars and workshops, and numerous phone calls to arrive at a draft rulemaking document that will drastically change the LCFS program. At 5pm today, February 20th, CARB will release a preliminary draft of the proposed rulemaking documents which they note will… Continue Reading
Another SCAM the IRS Wants You to be Aware of
Another SCAM the IRS Wants You to be Aware of Last week, the IRS put out a press release warning tax payers of yet another SCAM. Previously, we posted about the Form W-2 scam that urged payroll personnel to take extra precautions when it comes to protecting the information of their employees. This time, the… Continue Reading
10% Investment Tax Credit (ITC) for CHP Turbines
Congress Reinstates 10% Investment Tax Credit (ITC) for CHP Turbines Combined Heat and Power (CHP) technology allows electricity to be generated from steam used in industrial processes that may otherwise go underutilized. CHP processes utilize this steam to drive a turbine that generates electricity. The technology is becoming increasingly popular energy solution due to its… Continue Reading
The Expansion of the 45Q Tax Credit for CO2 Capture
The Expansion of the 45Q Tax Credit for CO2 Capture For years, the ethanol industry has been capturing carbon dioxide and selling it to manufacturers of carbonated beverages and other customers. As part of a government-spending bill, Congress just approved a large expansion of the 45Q tax credit for CO2 capture. The expansion of the… Continue Reading
Retroactive Extension of the Biodiesel Tax Credit
After this morning’s brief Government Shutdown, Congress passed a bill that includes a retroactive extension of the $1/gallon tax-credit for biodiesel blenders. The credit expired in December 2016 and will be the fifth time this bill has been extended since 2005. The bill has only been extended through 2017, but there is talk about extending… Continue Reading
