The sweeping changes made by the legislation commonly known as the One, Big, Beautiful Bill Act (OBBBA) included permanent 100% first year bonus depreciation for qualified property acquired and placed in service after January...more
The IRS today released guidance regarding certain reporting requirements for determining eligibility for the Section 45Q carbon oxide sequestration credit. The guidance, Notice 2026-1 (the Notice), addresses proposed...more
On July 4, 2025, President Trump signed ”An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14” (formerly known as the “One Big Beautiful Bill Act”) (the Act), comprehensive tax reform legislation that...more