IRA & CHIPS � IFRS® Accounting Standards
03.01.2023 | Duration: 12:36
The next episode in our series on the new IRA and CHIPS legislation covers accounting under IFRS Accounting Standards.
Podcast overview
Ashby Corum, ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Washington National Tax partner, and Jenna Terrell, ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Department of Professional Practice managing director, join host John Barbagallo in another installment of our podcast series on the accounting implications of the recently enacted IRA and CHIPS legislation under IFRS Accounting Standards.Â
Applicability
- Companies subject to US federal tax law that prepare financial statements in accordance with IFRS Accounting Standards
Relevant dates
- CHIPS enactment: August 9, 2022
- Inflation Reduction Act enactment: August 16, 2022
- For dates relating to specific provisions, see ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø publication Analysis and observations: Tax law changes in the "Inflation Reduction Act"
Podcast contents
- 00:15 � Introduction
- 00:55 – New ways to monetize tax credits
- 02:15 � Accounting for refundable, transferable, and nonrefundable, nontransferable credits
- 05:40 � New Corporate AMT
- 07:40 � Accounting for the new AMT
- 09:20 � How the new excise tax on share repurchases works
- 10:30 � Accounting for the new excise tax
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; ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø’s report on tax law changes
Analysis and observations: Tax law changes in the “Inflation Reduction Act of 2022�
Resource
Podcast series: IRA & CHIPS legislation
ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø professionals explore the newly enacted IRA & CHIPS legislature
Meet our team
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