News & Blog

US Capitol

The R&D Tax Break and Bipartisan Support For Its Restoration

Research and Development (R&D) tax credits are incentives designed to attract organizations with high research and development expenditures to the U.S. Research and development expenditures include performing activities related to the development, design, or improvement of products, processes, formulas, or software. Section 174 of the R&D and its regulations have allowed firms to expense research spending in year one, rather

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Reconciliation Bill

Impact of Reconciliation Bill on 179D

On August 16, 2022, The Budget Reconciliation Bill, also known as the Inflation Reduction Act, was signed into law. A smaller version of the failed $1.75 trillion Build Back Better Act, The Budget Reconciliation Act allocates $700 billion for climate change, healthcare, and a tax package. The Bill was passed exclusively along party lines, a unanimous yes from democrats and

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Inflation reduction act

Inflation Reduction Act of 2022 Significantly Changes 179D and 45L Energy Efficiency Tax Incentives

The 179D tax deduction and 45L tax credit, two energy efficiency tax incentives designed for commercial and residential buildings, underwent notable modifications under the Inflation Reduction Act of 2022. This landmark legislation, which includes a $369 billion investment in green energy projects, allows more parties than ever before to partake in these lucrative tax benefits.    Let’s take a look

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Energy efficient tax credits

Expired Energy Efficiency Tax Credits Renewed Under Inflation Reduction Act of 2022

The Inflation Reduction Act, signed into law on Aug. 16, 2022, is the largest climate change spending package in United States history. It invests $369 billion toward energy security and emissions reduction through manufacturing clean energy technologies, protecting natural resources, lowering electricity costs, and offering financial incentives for green purchases and projects.   Among other measures, the Act revives the

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IRS 179D Update

IRS Updates Guidance on 179D Tax Deduction

In June 2022, the Large Business and International (LB&I) Division of the Internal Revenue Service (IRS) released a new 53-page document about the 179D deduction for energy-efficient commercial buildings. The document, a Practice Unit for agents auditing the deduction, reveals an increased focus on the eligibility of designers responsible for government buildings.   National Tax Group’s in-house tax experts specialize

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Is There Still Time to Claim the Employee Retention Credit (ERC)?

The COVID-19 pandemic and the resulting economic upheaval sparked a series of financial relief packages, each with various complicated updates and provisions. In particular, the Employee Retention Credit (ERC) underwent several legislative changes that exacerbated initial confusion and left many qualifying businesses uncertain about their eligibility.   Even now, nine months after the last ERC update, many business owners are

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Commercial Real Estate

How C-PACE Financing Can Benefit Your Commercial Real Estate Company

Improving energy efficiency can reduce utility costs, increase property value, and benefit the environment — but the considerable costs that accompany major property upgrades keep some businesses from making a change. Commercial real estate accounts for $190 billion in energy expenditures every year, 18 percent of the United States’ primary energy usage, and business-related energy costs are only going up.

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Eco-friendly Business

Is the Future Green? How Business Owners are Getting Rewarded for Eco-Friendly Choices

With the rise of sustainability, corporate social responsibility, and the green economy, environmentally-friendly business practices are more popular now than ever before. Many companies are embracing an eco-friendly model, from recyclable packaging to energy-efficient industrial renovations.    This growing popularity hasn’t come out of nowhere — there are a number of financial benefits to sustainability and ways that going green

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R & D tax credit

USICA and America COMPETES Conference — What Does It Mean For Research and Development?

A change may be on the horizon for the United States’ research and development policy. A bipartisan conference committee is working to reconcile two bills that aim to increase support for research and development with a special focus on semiconductor production. However, with the August recess rapidly approaching and the committee’s progress already behind schedule, businesses may have longer to

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