|Author :||Danny C Santucci, JD|
|Course Length :||Pages: 29 ||| Word Count: 11,764 ||| Review Questions: 10 ||| Final Exam Questions: 10|
|CPE Credits :||2.0|
|IRS Credits :||2|
|Passing Score :||70%|
|Course Type:||NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents|
|Primary Subject-Field Of Study:||
Taxes - Taxes for Course Id 2074
For most of 2022, it was doubtful that Congress would enact any tax legislation. However, Democrats were finally able to negotiate and pass the Inflation Reduction Act (IRA) in August 2022. This course summarizes the tax legislation embodied in the IRA permitting students to advise clients on how these changes can impact tax planning.
This course is an overview providing reference to selected individual, business, and corporate tax provisions enacted, extended, or modified by the IRA. The resulting major tax changes carry special meaning to the tax practitioner and return preparer. The course emphasizes a general overview of energy tax credits and incentives, taxes and fees on fossil fuel, major features of the reinstated corporate AMT, electric vehicles, stock repurchases, and selected non-tax aspects of the legislation.
The course is intended to be a resource for tax professionals and staff alike to gain easy access to the most important major changes enacted by the IRA.
|Usage Rank :||0|
|Prerequisites :||General understanding of federal income taxation.|
|Experience Level :||Overview|
|Additional Contents :||Complete, no additional material needed.|
|Additional Links :|
|Advance Preparation :||None.|
|Delivery Method :||QAS Self Study|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||06-Jul-2023|
|NASBA Course Declaration :||Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.|
|Approved Audience :||
NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents - 2074
|Keywords :||Taxes, Inflation, Reduction, Act, Summary, cpe, cpa, online course|
|Learning Objectives :||
As a result of studying the assigned materials, you should be able to meet the objectives listed below.ASSIGNMENT
* Home & residential tax credits, deductions & exclusions
* Renewable energy credits & incentives
* Research credit against payroll tax
* Limitation on excess business loss
* Repurchase of corporate stock
* Corporate alternative minimum tax
* Selected non-tax provisions
2. Recognize a wide spectrum of renewable energy credits and the application of the prevailing wage and apprenticeship require-ments.
3. Specify key IRA business and Medicare provisions, including energy-efficient buildings, corporate AMT, loss limits, and drug reforms.
|Course Contents :||
Chapter 1 - Inflation Reduction Act Summary
Inflation Reduction Act of 2022