IRA & CHIPS corporate alternative minimum tax
09.30.2022 | Duration: 09:09
The next installment on new IRA and CHIPS legislation covers accounting for the new corporate alternative minimum tax.
Podcast overview
Ashby Corum, ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Washington National Tax partner, and Matt Drucker, ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Department of Professional Practice partner, join host John Barbagallo in the next installment of our podcast series on the accounting implications of the recently enacted IRA and CHIPS legislation â€� with a focus on accounting for the new corporate alternative minimum tax (AMT).
Applicability
- All US taxpayers
Relevant dates
- Inflation Reduction Act enactment: August 16, 2022
- The corporate AMT is effective for tax years beginning after December 31, 2022.Â
Podcast contents
- 00:30Ìý±õ²Ô³Ù°ù´Ç»å³Ü³¦³Ù¾±´Ç²Ô
- 01:00 Corporate AMT overview  and applicability
- 01:40Â Adjusted financial statement income (AFSI)
- 03:00Â Corporate AMT carryforward
- 04:30Â Accounting for corporate AMT
- 05:25Â Implications on the valuation allowance
- 07:25Â Accounting policy changes
Explore more
Resource
Podcast series: IRA & CHIPS legislation
ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø professionals explore the newly enacted IRA & CHIPS legislature
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; ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø’s report on tax law changes
Analysis and observations: Tax law changes in the “Inflation Reduction Act of 2022�
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