In a surprise twist, the Inflation Reduction Act (IRA) became law following secret negotiations in late July of 2022, and seismic changes in tax legislation are now underway. Well-informed tax practitioners will want to attend this program to stay ahead of these new developments!

This course will provide a concise look at these hot topics. All in-house accountants, public practice tax professionals, and business/financial advisors working with affected businesses will benefit from this timely and insightful seminar. Topics covered will include the following:

• 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

• List the newest tax developments contained in the Inflation Reduction Act of 2022


• Identify the new and extended credits available for green energy initiatives


• Determine which taxpayers and assets qualify for credits from purchasing electric personal vehicles and clean commercial vehicles


• Recognize the implications of increased IRS funding 


• State the newest tax developments contained in the CHIPS Act of 2022


• Give examples of effective and efficient techniques for implementing new standards