2023 Tax Outlook Pt. 1: Lame Duck Session, Split Congress Expectations
This two-part series forecasts tax developments the remainder of this month and the new year will bring. Part 1 begins …
Public Comment Sought on Additional Clean Energy Tax Provisions
The Department of the Treasury and the IRS on November 3 issued three additional notices requesting public comment on climate …
New Energy Credit Labor Rules Affect Construction, Lawyers Says
Eligibility enforcement of higher tax credit rates for qualifying energy construction projects under the Inflation Reduction Act (PL 117-169) hinges …
Oil and Gas Companies Will be Most Impacted by Inflation Reduction Act, Moody’s Says
Oil and gas companies will have to pay more taxes under the Inflation Reduction Act of 2022, according to accounting …
The Long Read: Advising Clients on New Corporate Minimum Tax
By Shannon Christensen and Joseph Boris The 15% corporate alternative minimum tax in the recently signed Inflation Reduction Act of …
The Federal Inflation Reduction Act (P.L. 117-169) and State Taxes
President Biden signed the Inflation Reduction Act of 2022 (P.L. 117-169) into law on August 16, 2022. The legislation includes …
Client Letter: Stock Repurchase Excise Tax
Dear Client: I understand you have established (plan to establish) a stock repurchase program whereby your corporation is (will be) …
Client Letter: Inflation Reduction Act’s Individual, Small-Business Credits
Dear Client, The recently enacted Inflation Reduction Act of 2022 contains several new environment-related tax credits that are of interest …
The Long Read: What to Expect From a Freshly Funded IRS
With the IRS to receive long-sought additional funding under the Inflation Reduction Act (H.R. 5376), questions remain as to how the …
Guidance, List of Eligible Cars Issued for Revised Electric-Vehicle Credits
On its website, the IRS has issued guidance on tapping the Inflation Reduction Act of 2022’s tax credits for electric vehicles (“Plug-in …