Tax Provisions in the Inflation Reduction Act of 2022

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  • Location
    • Your Computer
      Your Space
      ISCPA Webinar, ID 00000
  • Credits
    • 1.40
  • Credit Type(s)
    • Taxation (1.40)
  • Vendor
    • Kaplan Financial Education
  • Level
    • Update
  • Fields of Study
    • Taxes
  • Message
    • On-Demand Details Below - SAVE THIS EMAIL

Description

This presentation was recorded on 8.25.22 and will not be updated after that date

You will have to pass a quiz in order to receive CPE credit

The reconciliation bill has gone  through two names and lost most of its tax provisions, but there still some significant tax provisions that will impact the upcoming planning season.  Assuming the bill is signed into law, this session will look at which tax items remain in this bill, including the additional funding being provided to the IRS, large corporation 15% minimum tax, publicly traded corporation stock buyback excise tax, extension of the expanded access to the premium tax credit, extension and expansion of energy credits and more.  As well, we'll look at the effective dates of the various provisions and consider their impact on tax planning for 2022.

This event will run between 55 and 75 minutes depending on the final version of the legislation. CPE credit will be adjusted accordingly.

  • Qualifies for IRS CE

Designed For

  • All practitioners

Objectives

Special pricing discount for groups of 5 to 10 people that view from the same log in - $130. Emails Gwynne for details.

Highlights

Items to Be Covered Include:

  • 15% corporate minimum tax: which corporations are impacted
  • Public corporation stock-buy back excise tax
  • Extension of lowering of premium percentages and elimination of the 400% of poverty level cliff for the premium tax credit through 2025
  • Extension and expansion of business energy credits for clean energy and clean fuels
  • Energy incentives for individuals including:
    • Conversion of lifetime limits to annual limits on individual energy credits under IRC §25C
    • Revisions to clean vehicle credit, including removal of sales unit limits on vehicles eligible for the credit and addition of limit based on modified adjusted gross income and manufacturer's suggested retail price
    • Creation of new credit for purchase of previously-owned clean vehicle
  • Credit for qualified commercial clear vehicles
  • Increase in payroll tax research credit for small businesses

 

Advanced Prep

  • Download PDF manual - view your upcoming events in "My CPE" on website

If you need this reported to the IRS for CE credit, email CPE@idcpa.org

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Leaders

Ed Zollars

Ed Zollars Edward K. Zollars, CPA is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He has been in practice for over twenty five years, specializing in tax issues for closely held businesses and individuals. Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues, and was the Tax Section's representative on three occasions to the AICPA's Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop's Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs.Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010. Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA's Accountants Forum in the mid 1990s. He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.

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