MEDIA ALERT: Wolters Kluwer Tax Experts Available to Speak on Congress Passing Inflation Reduction Act

Rhea-AI Summary

Wolters Kluwer Tax & Accounting announced the passage of the Inflation Reduction Act of 2022, which was approved by Congress on August 12, 2022. This landmark legislation introduces substantial tax breaks for clean energy and healthcare, funded by a 15% corporate minimum tax and a 1% tax on corporate stock buybacks. Tax expert Mark Luscombe emphasized these enhanced incentives will make green technologies more attractive. A free public webinar discussing these tax implications will be held on August 17, 2022, at 3:00 p.m. ET.

Wolters Kluwer Tax & Accounting:

Does the New Corporate Alternative Minimum Tax Under the Inflation Reduction Act Apply? Follow the Infographic. (Graphic: Business Wire)

What: Congress has passed the Inflation Reduction Act of 2022, with the House voting on Friday, August 12, 2022. The legislation includes the largest tax breaks for clean energy ever enacted. It also includes tax breaks for health care. The legislation is paid for with a 15 percent corporate minimum tax on large corporations, a one percent tax on corporate stock buybacks, projected greater IRS collections from increased IRS funding, and changes to the Medicare rules which may help Medicare reduce what it pays for certain drugs. There is even some projected deficit reduction.

Who: Tax expert Mark Luscombe, JD, LL.M, CPA, Principal Federal Tax Analyst, for Wolters Kluwer Tax & Accounting, can discuss the tax changes made by the Inflation Reduction Act and its impact on taxpayers.

According to Mark: “The enhanced tax breaks available to individuals and businesses should make green vehicles and energy efficient homes and businesses much more economically attractive, as well as easier to plan for with significantly lengthened effective dates.”

Learn more about some of the changes outlined in this recently published Inflation Reduction Act of 2022 tax briefing from Wolters Kluwer Tax & Accounting.

Free webinar open to the public
Wolters Kluwer Tax & Accounting is also hosting a free webinar on the legislation on Wednesday, August 17, 2022, at 3:00 p.m. ET, sign up here.

Included in this 50-minute, CPE- and CE-eligible webinar:

• Provisions of the Act, and their potential tax implications
• How to field questions your clients may have about the various provisions
• Where the IRS funding is going and how it will be used

Media Contact:

To arrange an interview with Mark Luscombe or other federal and state tax experts from Wolters Kluwer Tax & Accounting on this or any other tax-related topics, please contact Kelly de Castro.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005176/en/

KELLY DE CASTRO

614-288-5640

Kelly.deCastro@wolterskluwer.com

Source: Wolters Kluwer Tax & Accounting

FAQ

What is the Inflation Reduction Act of 2022 as announced by Wolters Kluwer Tax & Accounting?

The Inflation Reduction Act of 2022 introduces significant tax breaks for clean energy and healthcare, funded by a 15% corporate minimum tax and a 1% tax on corporate stock buybacks.

Who is discussing the tax changes of the Inflation Reduction Act?

Tax expert Mark Luscombe is available to discuss the changes and impacts of the Inflation Reduction Act as per the announcement from Wolters Kluwer Tax & Accounting.

When is the free webinar about the Inflation Reduction Act hosted by Wolters Kluwer Tax & Accounting?

The free webinar is scheduled for August 17, 2022, at 3:00 p.m. ET.

What topics will be covered in the Wolters Kluwer Tax & Accounting webinar?

The webinar will cover provisions of the Act, potential tax implications, client questions, and IRS funding usage.

How can I register for the Wolters Kluwer Tax & Accounting webinar on the Inflation Reduction Act?

You can register for the webinar on their website using the provided link in their announcement.

What are the projected benefits of the Inflation Reduction Act mentioned by Wolters Kluwer Tax & Accounting?

The Act is expected to provide enhanced tax breaks that will make green vehicles and energy-efficient homes more economically attractive.