2022 Tax Legislation: the Inflation Reduction Act and CHIPS Act WEBCAST

Overview

In a surprise twist, Inflation Reduction Act (IRA) was passed in short order after secret negotiations were revealed in late July, 2022. Seismic changes in tax legislation is currently taking place, and the well-informed tax practitioner will want to attend this two hour course in order to stay abreast of these developments! This course will provide a concise look at these hot topics.

Highlights

Inflation Reduction Act of 2022. The new 15% corporate AMT. Electric Vehicle Credits. Clean Commercial Vehicle Credits. 1% tax on the repurchase of corporate stock. Excess Business Losses. Clean Energy Tax Credits. Energy Efficient Home Improvement Credit. Energy Efficient Commercial Buildings Deduction (Section 179D). New Credits. Research Credits for Small Businesses. Excise Taxes on Fossil Fuels. Green Property Depreciation. Additional Funding for the IRS. Transfers of certain credits to an unrelated transferee. Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act of 2022.

Prerequisites

None.

Designed For

This course is suitable for corporate tax and finance executives, directors, managers, CPAs, Enrolled Agents, accountants, attorneys and financial advisors who work with and advise individuals or businesses that use or invest in cryptocurrency. All in-house and public practice professionals involved with tax compliance and planning will benefit from this timely and insightful course.

Objectives

Understand the newest tax developments contained in in the Inflation Reduction Act of 2022. Become knowledgeable about the new and extended credits available for green energy initiatives. Learn about which taxpayers and assets qualify for credits for purchasing electric personal vehicles and clean commercial vehicles. Obtain understanding the implications of increased IRS funding. Understand the newest tax developments contained in the CHIPs Act of 2022. Learn effective and efficient techniques for implementing new standards.