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The Inflation Reduction Act and CHIPS Act: 2022 Tax Legislation

THE INFLATION REDUCTION ACT AND CHIPS ACT: 2022 TAX LEGISLATION

Cost $30.00
Presentation Length 2.0 hours

Recorded DateJanuary 31, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

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


Learning Objectives:


  • 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

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Professor Allison McLeod is currently a full-time Senior Lecturer at the University of North Texas and has taught classes in Corporate Income Taxes, Multi-jurisdictional Taxation, Individual Taxes, Tax Research, Ethics and Financial Accounting. Prior to going into academia, she worked for 18 years in industry and in a Big Four accounting firm. Professor McLeod earned a law degree from Baylor School of Law, and an LL.M. degree in Taxation from Southern Methodist School of Law. She has been a licensed CPA since 1993 and has been licensed to practice law since 1992.

 

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About Our Presenter

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Allison M. (Yee) McLeod, LL.M., JD, CPA, has served as an expert witness in multi-million dollar cases involving tax litigation and accounting malpractice.

Professor McLeod is also a full-time Senior Lecturer at the University of North Texas in Denton, Texas.  Her courses included Ethics, Corporate Taxation, Tax Research and Financial Accounting.