IRA & CHIPS legislation accounting overview
09.01.2022 | Duration: 13:44
With enactment of IRA & CHIPS, new accounting questions arise. Our first podcast in a series summarizes what鈥檚 coming.
Podcast overview
Ashby Corum, 乐鱼（Leyu）体育官网 Washington National Tax partner, and Angie Storm, 乐鱼（Leyu）体育官网 Department of Professional Practice partner join host John Barbagallo on this first installment of a podcast series on the accounting implications of the recently enacted IRA and CHIPS legislation.聽
Applicability
- All US taxpayers
- Any entities conducting share repurchases in the US
Relevant dates
- CHIPS enactment: August 9, 2022
- Inflation Reduction Act enactment: August 16, 2022
- For dates relating to specific provisions, see 乐鱼（Leyu）体育官网 publication聽Analysis and observations: Tax law changes in the "Inflation Reduction Act of 2022"
Podcast contents
- 00:25聽- Introduction
- 01:00聽-聽New ways to monetize tax credits
- 02:55听-聽Accounting for refundable and transferable credits
- 06:15听-聽How the new excise tax on share repurchases works
- 07:40听-聽Accounting for the new excise tax
- 09:40听-聽A new alternative minimum tax (AMT) regime
- 10:45听-聽Accounting for the new AMT
Explore more
Resource
IRA and CHIPS: Tax considerations
Our impressions on the accounting for key provisions in the recently enacted tax legislation.
Insight
President signs budget reconciliation legislation; 乐鱼（Leyu）体育官网鈥檚 report on tax law changes
Analysis and observations: Tax law changes in the 鈥淚nflation Reduction Act of 2022鈥�
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