Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube By Jonathan Tucker | Principal, Research & Development Tax Credits Important developments recently came out of Congress related to the House’s ongoing reconciliation efforts, specifically around tax provisions that impact businesses directly, most notably, research and development (R&D) expensing. At a recent Tax Council Policy Institute conference, … Read More
Tax Insight
House Tax Bill Prioritizes 174 R&D Amortization Fix, Bonus Depreciation, SALT Cap, and more
Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube By Jonathan Tucker | Principal, Research & Development Tax Credits On May 12, 2025, the House Ways and Means Committee released a larger text than what Chairman Jason Smith (R-MO) released on May 9 for proposed tax legislation as part of the FY 2025 budget reconciliation process. … Read More
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
KBKG Tax Insight: Senators Call for Criminal Probe into Fraudulent Tribal Tax Credit Scheme
Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube By Gian Pazzia | Chairman & Chief Strategy Officer According to the U.S. Senate Committee on Finance website posted on April 15, 2025, the IRS has confirmed that so-called “tribal tax credits” or “Native American Income Tax Credits” being sold by several promoters are fraudulent. Senators … Read More
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
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”
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
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
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?
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