Maryland has renewed the state R&D Tax Credit, which is a credit equal to 10% of eligible R&D expenses incurred during the taxable year in excess of the Maryland Base Amount.Read More

The IRS has introduced a simpler way for certain businesses to request additional time to resolve denied Employee Retention Credit (ERC) claims, potentially avoiding the need to go to court.Read More

Senator Bill Cassidy, with the support of a bipartisan group, introduced S.492, or the “Improve and Enhance the Work Opportunity Tax Credit Act,” designed to strengthen the WOTC.Read More

On August 28, the IRS released Rev. Proc. 2025-28, which provides procedures for making certain elections related to the treatment of domestic research and experimental (R&E) expenditures under the One, Big, Beautiful Bill Act (OBBB).Read More

On June 17, Governor Abbott signed into law Texas Senate Bill 2206 (S.B. 2206), extending the Research and Development (R&D) Credit, which currently expires December 31, 2026.Read More

The House Budget Committee voted late last night to advance the “One, Big, Beautiful” bill to the House Rules Committee, which is scheduled for Wednesday, May 21st. If the bill and any amendments are approved by the Rules Committee, the House could vote on the bill by later this week.Read More

The House Budget Committee voted late last night to advance the “One, Big, Beautiful” bill to the House Rules Committee, which is scheduled for Wednesday, May 21st. If the bill and any amendments are approved by the Rules Committee, the House could vote on the bill by later this week.Read More

Earlier this year, in March, the House introduced the “American Innovation and R&D Competitiveness Act of 2025,” which would immediately restore the ability to deduct all research expenditures in the year incurred, as well as a retroactive fix for tax years beginning after 12/31/2021. However, the bill currently remains with the House Ways and Means...Read More

Congress has introduced the first bill of this session that addresses the current requirement for businesses to capitalize and amortize their research or experimental (R&E) costs. The bill, titled “American Innovation and R&D Competitiveness Act of 2025”, would immediately restore the ability to deduct all research expenditures in the year incurred, as well as make...Read More

The Tax Cuts and Jobs Act (TCJA) is being heavily monitored by business owners and tax professionals alike. Read this 2-minute overview to get up to speed on the most recent IRS guidance.Read More