KBKG Tax Insight: Minnesota Prevailing Wage Requirement on LIHTC Projects Can Be Offset By the 45L Energy Tax Credit

04/22/2025
KBKG Tax Insight: Minnesota Prevailing Wage Requirement on LIHTC Projects Can Be Offset By the 45L Energy Tax Credit

Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube By Brandon Val Verde | Director – Green Building Tax Incentives Minnesota is the first state to extend prevailing wage requirements to affordable housing developments utilizing Low-Income Housing Tax Credits (LIHTC). Under this new law, multifamily housing projects with more than 10 units that receive LIHTC … Read More

House Passes 2025 Budget Resolution, Paving Way for Tax and Spending Reform

04/10/2025
House Passes 2025 Budget Resolution, Paving Way for Tax and Spending Reform

Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube By Jonathan Tucker | Principal, Research & Development Tax Credits On April 10, 2025, the U.S. House of Representatives approved the final version of the Fiscal Year (FY) 2025 budget resolution (H. Con. Res. 14) by a razor-thin margin of 216 to 214, which will incorporate amendments … Read More

Senate Budget Maneuvers Could Rewrite Rules on TCJA Permanency

04/03/2025
Senate Budget Maneuvers Could Rewrite Rules on TCJA Permanency

By Jonathan Tucker | Principal, Research & Development Tax Credits On April 2, 2025, Senate Republican leaders released a budget resolution that, once voted on, would begin the reconciliation process for tax reform. This is a similar framework to what the House passed in February. This Senate framework aims to keep tax cuts from the 2017 … Read More

BREAKING NEWS: Trump Announces Sweeping “Reciprocal Tariffs”

04/02/2025
BREAKING NEWS: Trump Announces Sweeping “Reciprocal Tariffs”

By Alex Martin | Principal, Transfer Pricing President Trump signed an executive order on April 2, 2025, implementing a new “Reciprocal Tariffs” policy, aimed at what the administration describes as unfair trade practices. See tariff rates for select trading partners below. Tariff Rates for Selected Trading Partners China: 54% (20% current tariff rate + 34% … Read More

IRS Issues Guidance with New Options for ERC Filers

03/24/2025
IRS Issues Guidance with New Options for ERC Filers

By Ian Williams | Principal, Employee Retention Credit The IRS has just released updated ERC FAQs on March 20, 2025, clarifying that protective claims for amended tax returns are no longer necessary. This update replaces KBKG’s earlier guidance recommending those claims as a precaution. The original publication can be viewed here. Scenarios and Solutions The … Read More

Trump’s Pledge to Repeal Green Energy Incentives Faces GOP Resistance

03/18/2025
Trump’s Pledge to Repeal Green Energy Incentives Faces GOP Resistance

By Jonathan Tucker | Principal, Research & Development Tax Credits There are developments within the Republican Party, as 21 House Republicans have urged President Trump and House Speaker Mike Johnson (R-Louisiana) not to repeal specific green tax incentives established under the Inflation Reduction Act (IRA) of 2022, enacted during President Biden’s administration. These lawmakers emphasize … Read More

100% Bonus Depreciation Making a Comeback?

03/17/2025
100% Bonus Depreciation Making a Comeback?

By Amar Patel | Principal, Cost Segregation In a speech to a joint session of Congress, President Trump outlined priority tax legislation expected later this year to restore provisions of the Tax Cuts and Jobs Act (“TCJA”), which includes “providing 100% expensing, retroactive to January 20, 2025”. This leads many to believe that 100% Bonus Depreciation … Read More

Lawmakers Introduce Bill to Retroactively Fix R&D 174 Expensing

03/14/2025
Lawmakers Introduce Bill to Retroactively Fix R&D 174 Expensing

By Kevin Zolriasatain and Paul McVoy | Principals, Research & Development Tax Credits On March 10, 2025, a bipartisan group of lawmakers introduced the American Innovation and R&D Competitiveness Act of 2025 in the U.S. House of Representatives. The legislation aims to restore the immediate deductibility of research and experimental (R&E) expenditures and reverse the amortization requirement imposed … Read More