On August 16, President Biden signed the Inflation Reduction Act (IRA), which includes numerous provisions pertaining to taxes, energy and the environment. The effect of the law on big businesses has received a lot of media attention. For instance, the IRA imposes a new 15% alternative minimum tax on large, profitable corporations. The law also
Tag: research credit
How to Claim the R&D Credit Against Payroll Tax
The research and development (R&D) credit, a credit for increasing research activities, is a valuable tax break for eligible businesses.