The Inflation Reduction Act of 2022 was signed into law on August 16, 2022. This law contains several provisions that could affect your tax clients. Learn what’s changed so you can adapt.

Prepare for tax changes

In addition to introducing clean energy measures and reducing healthcare costs, the Inflation Reduction Act of 2022 also contains tax provisions that may affect individuals and businesses.

The bill includes:

• 15% minimum tax for large corporations
• 1% excise tax on stock buybacks
• Various renewable energy tax incentives
• Increased IRS funding initiatives

Learn how the bill may affect individuals and businesses and what it means in the long term for your tax outlook.