The Inflation Reduction Act of 2022: A Comprehensive Review Webinar (1.5 Hours)

Overview: 

The Inflation Reduction Act of 2022 features a number of important provisions that may affect your company’s future taxes, as well as those of your clients. This substantial legislation also addresses the negotiation of drug prices by Medicare, as well as climate change incentives. In this webinar, prominent tax professionals will discuss the Act, and explain its various tax provisions, including:

  • 15% Minimum Tax on Large Corporations
  • Carried Interest Loophole
  • 1% Excise Tax on Stock Repurchases
  • Additional Funding for IRS Enforcement
  • Extension of the Limitation on Net Business Losses for Individuals
  • Climate Change Tax Incentives

    ...and more
     

Objective: 

To give tax and financial professionals a detailed overview of the tax provisions included in the new Inflation Reduction Act of 2022, which may affect the future taxes of their companies, as well as those of their clients.

 

SPEAKERS:

Michael D'Addio, Principal, Marcum LLP

Jill Scher, Partner, Business & Tax Services, Marcum LLP

Emphasis: 
  • 15% Minimum Tax on Large Corporations
      - Adjusted Financial Statement
        Income (AFSI)
  • Carried Interest Loophole
  • 1% Excise Tax on Stock Repurchases
      - Covered corporation
      - Redemptions
      - Specific affiliate
      - Foreign corporations
      - Exclusions
  • Additional Funding for IRS Enforcement
  • Extension of the Limitation on Net Business Losses for Individuals
  • Modification to the Payroll Tax R&D Credit
  • ACA Subsidies Extended
  • Climate Change Tax Incentives
    - Prevailing Wage and
      Apprenticeship Requirements
      (PWAR)
    - Energy Community Bonus Credit
    - Domestic Content Requirement
      (DCR)
    - Clean Electricity Production Tax
      Credit (PTC)
    - Low income solar/wind credit
    - Carbon oxide sequestration
    - Alternate fuels/biofuels
    - Sustainable aviation fuel
    - Clean hydrogen credits
    - Commercial buildings
    - Nonbusiness/individual clean
      energy credits
    - Clean vehicle credits
  • What’s Not in the Bill
    - No changes to:
      - Carried interest rules
      - SALT deduction limitation
      - Estate and gift tax rules
      - Qualified small business stock
        exchange
    - No increase to tax rates on
      capital gains for high earners,
      or corporate income tax
    - No limitation on benefit of like-
      kind exchanges
Bottom
Prerequisite: 

Working knowledge of federal income taxes.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
1.50
NASBA Field of Study: 
Taxes