The Inflation Reduction Act contains many new tax-related provisions including increased IRS funding, the corporate alternative minimum tax, the excise tax on repurchase of corporate stock, and clean energy benefits. While many provisions of the Inflation Reduction Act are targeted towards wealthy individuals and large corporations, there are some provisions that have wide-ranging impact. This course will provide an overview of the main tax provisions included in the Inflation Reduction Act.
After completing this course, the learner will be able to:
- Identify how the Inflation Reduction Act provisions address the tax gap
- Identify the basic requirements of new tax-related provisions introduced by the Inflation Reduction Act including the corporate alternative minimum tax and the excise tax on repurchase of corporate stock
- Specify the permitted purposes of additional funds provided to the IRS by the Inflation Reduction Act