On August 16, 2022, President Biden signed The Inflation Reduction Act of 2022 into law with the goals of helping lower costs for families, combating the climate crisis and reducing the deficit to help inflation. What do business owners need to know about The Act, and how does it affect everything from tax to the environment to healthcare?
In this episode of The Wrap, Warren Averett’s own William Dow, CPA, and Lisa Billings, CPA, join our hosts to discuss the sprawling Inflation Reduction Act of 2022, how the act impacts large corporations, stock repurchases and energy credits, and how the act could affect individuals (both directly and indirectly).
After listening to this episode, you’ll be able to:
- Understand the changes in the corporate minimum tax, who it affects and how it is assessed on both a U.S. and foreign scale.
- Know what the stock repurchases provision is, who is exempt and what it means for public companies.
- Better understand the latest changes to the Electronic Vehicle Tax Credit and other credits designed to impact the environment.