President Biden signed the CHIPS and Science Act into law after it received bipartisan support in both the House of Representatives and the Senate.
The law ( H.R. 4346) “will boost American semiconductor research, development, and production, ensuring U.S. leadership in the technology that forms the foundation of everything from automobiles to household appliances to defense systems,” the White House said in a fact sheet released August 9, 2022, the day of the signing.
To help with that, the bill contains a 25 percent investment tax credit for the manufacture of semiconductors as well and the manufacture of the tools to do so in addition to the grants that it provides the semiconductor industry.
The IRS, along with Security Summit partners, urged businesses and individual taxpayers to update their security measures and practices to protect against […]
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The IRS has issued its 2024 Required Amendments List (2024 RA List) for individually designed employee retirement plans. RA Lists […]
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The IRS reminded low- and moderate-income taxpayers to save for retirement now and possibly earn a tax credit in 2025 […]
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The IRS and Security Summit partners issued a consumer alert regarding the increasing risk of misleading tax advice on social media, which […]
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The IRS and the Security Summit partners encouraged taxpayers to join the Identity Protection Personal Identification Number (IP PIN) program at […]
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The IRS warned taxpayers to avoid promoters of fraudulent tax schemes involving donations of ownership interests in closely held businesses, […]
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On November 5, 2024, voters in Seminole County approved a ballot referendum extending the expiration date of Seminole County’s 1% […]
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Beginning January 1, 2025, dealers should temporarily stop collecting the following Florida discretionary sales surtaxes: the Hillsborough County 0.5% indigent […]
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