ERC Filings Might Halt by 1/31/24

  • Manufacturing
  • 1/17/2024

There's a lot in this draft bill: R&D capitalization, business interest limitation, bonus depreciation, and more. Read on for details.

Professionals at CLA are closely monitoring a draft bill making its way through Congress that might move up the deadline for ERC filing from April 15th, 2024, to January 31st, 2024, among other key items.

A draft entitled “The Tax Relief for American Families and Workers Act of 2024” was released by the House Ways and Means Committee on the 16th of January. The current draft includes a number of items of keen interest to manufactures: R&D capitalization, business interest limitation, bonus depreciation, and more.

The main “pay for” is an early end to ERC filings.

Get more details in this full article.

This blog contains general information and does not constitute the rendering of legal, accounting, investment, tax, or other professional services. Consult with your advisors regarding the applicability of this content to your specific circumstances.

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