Event Description

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Designed For

Objectives

After completion, participants will be able to discuss with clients all the relevant tax provisions of the Inflation Reduction Act of 2022.

Major Subjects

(H.R. 5376) as passed by the Senate on 08/07/22 and by the House on 08/12/22) is a 3-hour live video conference (3 CPE credits) led by Lucien P. Gauthier, Esq., LL.M., CPA who has been a practicing tax attorney for over 50 years.  Topics include a 15% corporate AMT on certain corporations; a 1% tax on the repurchase of certain corporate stock; enhanced funding for the IRS; affordable care act subsidies including an extension through 2025 of the rule to allow a credit to taxpayers whose household income exceeds 400% of the poverty line; clean energy and efficiency incentives for individuals including an extension, increase and modifications of  the nonbusiness energy property credit renamed the energy efficient home improvement credit; residential clean energy credit; energy efficient commercial buildings deduction; extension, increase, and modifications of new energy efficient home credit; clean vehicle credit including a credit for previously-owned clean vehicles; credit for qualified commercial clean vehicles; increase in research credit against payroll tax of small businesses; adjustments to the limitation rules for the deduction for state and local taxes; and extension of limitation on excess business losses of noncorporate taxpayers.

Prerequisites

None, but registrants are encouraged to review the handout material before participating in the live video conference