Surgent's Summary and Analysis of the Inflation Reduction Act of 2022 (IR22)

Overview

Throughout much of 2022, it was very doubtful whether any tax legislation would be enacted. At long last we now have new tax legislation impacting 2023 and later years in the Inflation Reduction Act (IRA). This program will cover the new tax legislation embodied in the IRA in detail so that those attending can properly advise their clients if and how these various tax changes impact their individual and business planning. 

Be the first to know about this brand-new legislation in a comprehensive manner. In contrast to courses provided by others that only highlight the broad strokes of the legislation, which you could easily access in an online summary, our expert panelists will detail all of the relevant facets applicable to planning for both you and your clients.

Prerequisites

None

Objectives

• Be familiar with all aspects of the Inflation Reduction Act
• Advise clients regarding individual and business planning related to this legislation

Highlights

• The 15% corporate tax
• 1% tax on the repurchase of corporate stock
• Enhancement of IRS services
• Prescription drug pricing reform, including drug price negotiation
• Maximum out-of-pocket cap for Medicare beneficiaries
• Extension of Affordable Care Act subsidies for certain individuals whose household income exceeds 400% of the poverty line
• Clean energy and efficiency incentives for individuals
• Energy Efficient Home Improvement Credit
• Energy efficient commercial buildings deduction (Section 179D
• Extensions, increases, and modifications of the New Energy Efficient Home Credit
• Clean Vehicle Credit and credit for previously owned clean vehicles
• Qualified commercial clean vehicles
• Transfers of certain credits to an unrelated transferee
• Increase in Research Credit against payroll tax for small businesses