Inflation Reduction Act Summary
Inflation Reduction Act of 2022 summarizes the tax legislation embodied in the IRA permitting students to advise clients on how these changes can impact tax planning. This course is an overview providing reference to selected individual, business, and corporate tax provisions enacted, extended, or modified by the IRA. The resulting major tax changes carry special meaning to the tax practitioner and return preparer.
The course is intended to be a resource for tax professionals and staff alike to gain easy access to the most important major changes enacted by the IRA.
* Electric vehicle credit modifications and changes
* Home & residential tax credits, deductions & exclusions
* Renewable energy credits & incentives
* Research credit against payroll tax
* Limitation on excess business loss
* Repurchase of corporate stock
* Corporate alternative minimum tax
* Selected non-tax provisions