Republican-Led Plan Aims to Preserve 179D Building Energy Deductions, Extend Other Energy Credits
A bipartisan House bill, H.R. 8477 – the American Energy Dominance Act – was introduced on April 23, 2026 to make the Section 179D commercial building energy‑efficiency deduction permanent and to roll back select changes from the 2023 One, Big, Beautiful Bill. The legislation also proposes extending the 45L low‑income housing credit through 2032. While the proposal signals strong political support, the current deadline of June 30, 2026 for projects to qualify under existing law remains unchanged. Tax advisors are urged to continue audit‑ready documentation now, as any future changes won’t cure past filing gaps.
Two Fast-Moving Transfer Pricing Shifts in Canada and India that Can Reshape Pricing Policies
Canada is tightening transfer‑pricing audits by requiring a “delineation‑first” approach that aligns contracts, actual conduct, and value creation, rendering pure benchmark studies insufficient. India’s 2026‑27 budget introduces a 15% cost‑plus safe harbor for routine data‑center services, offering pricing certainty but...
Ohio’s Proposed R&D Credit Expansion Could Unlock State Income Tax Savings
Ohio’s House Bill 756, introduced in March 2026, proposes extending the state’s nonrefundable research and development (R&D) tax credit from the Commercial Activity Tax (CAT) to the Ohio state income tax. The change would let firms with little or no...
IRS Provides Way to Extend ERC Disallowance Deadline
The IRS has introduced a new mechanism for taxpayers whose Employee Retention Credit (ERC) claims were disallowed to extend the two‑year deadline for filing a refund lawsuit. Eligible taxpayers can submit Form 907, “Agreement to Extend the Time to Bring...