On October 1, the European Union (EU) launched the initial phase of the world’s first system to impose taxes on carbon-intensive imports like iron and steel. The EU will not collect these penalties until 2026, […] Read More
On October 1, the European Union (EU) launched the initial phase of the world’s first system to impose taxes on carbon-intensive imports like iron and steel. The EU will not collect these penalties until 2026, […] Read More
U.S. manufacturers are facing higher taxes due to the expiration of several tax policies. These include: Interest Deductibility. At the beginning of 2022, a stricter limitation on the deductibility of the interest payments on business […] Read More
On September 14, the U.S. Internal Revenue Service (IRS) issued a memorandum stating it has put an immediate stop to processing employers’ paperwork for the Employee Retention Credit (ERC), a key tax benefit that Congress […] Read More
On July 18, Rep. Lloyd Smucker (R-Penn.) reintroduced the Main Street Tax Certainty Act (H.R. 4721), which would make permanent the Section 199A 20 percent deduction for business income earned through pass-through entities such as […] Read More
After sustained advocacy from the manufacturing industry, the U.S. Treasury and the Internal Revenue Service (IRS) announced they are reevaluating harmful changes made last year to the foreign tax credit rules. While the Treasury Department […] Read More