2022 Tax Legislation: Inflation Reduction Act and CHIPS Act WEBINAR

Overview

In a surprise twist, the Inflation Reduction Act (IRA) was passed in short order after secret negotiations were revealed in late July 2022. Seismic changes in tax legislation are 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). 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 and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses that have these tax implications.

Objectives

Recall recent tax legislation on the CHIPs Act and Inflation Reduction Act. Identify recent changes to IRS procedure. Recognize how the new tax provisions will impact clients. Identify the new IRS procedural changes for those affected by recent natural disasters.

Preparation

None.

Notice

None.