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 …
Look for More IRS Form Revisions Now that the Inflation Reduction Act is Law
The IRS may need to revise certain employment tax reporting forms, and the forms used to claim the qualified small …
President Signs Inflation Reduction Act
President Biden on August 16 signed into law the Inflation Reduction Act of 2022 (H.R. 5376), salvaging key parts of …
Final Bill Still No Threat to Inflation, Penn Wharton Scholars Estimate
Penn Wharton Budget Model of Senate-Passed Inflation Reduction Act: Estimates of Budgetary and Macroeconomic Effects The finalized Inflation Reduction Act of …
Inflation Reduction Act Inches Into FASB Waters Over Book Income Tax
The FASB, the nation’s main accounting rulemaker, could have congressional lobbyists nipping at its heels over a minimum tax rule …
Summary of Senate-Passed Inflation Reduction Act of 2022
On Sunday, August 7, the Senate passed the Inflation Reduction Act of 2022 (H.R. 5376) . The bill includes a …
Inflation Bill Would Cut Deficits By $102 Bln, CBO Estimates
The Inflation Reduction Act of 2022 (H.R. 5376) would cut federal spending by $14.5 billion and raise $87 billion in revenue, reducing …