Before the Inflation Reduction Act, professionals in tax, legal, and accounting fields navigated a different set of rules and provisions. This course acts as a bridge to the new regulations introduced by the IRA, transforming uncertainty into confident application of the latest legal and tax changes. After completing this course, participants will transition from a state of unfamiliarity with the new IRA provisions to a position of competence and readiness. The course covers individual tax credits for electric vehicle purchases and energy-efficient home improvements, offering a deep dive into the array of renewable energy credits. Additionally, it explores the impact on businesses, including the implementation of the corporate AMT and loss limits, as well as significant changes in Medicare provisions. This transformation equips participants with the necessary tools to adapt their practices to the new landscape, ensuring they remain ahead in their respective fields.
Learning Objectives
After completing this course, you will be able to:
Apply changes imposed by the Inflation Reduction Act (IRA) relating to credits allowed for the individual acquisition of qualified electric vehicles and energy-efficient home improvements and property;
Recognize a wide spectrum of renewable energy credits and the application of the prevailing wage and apprenticeship requirements; and
Specify key IRA business and Medicare provisions, including energy-efficient buildings, corporate AMT, loss limits, and drug reforms.
After studying the materials, answer exam questions 1 to 10.
Major Topics
Inflation Reduction Act-modified for clean vehicles
Energy Efficient Home Improvement Credit
Renewable Energy Credits
Prevailing Wage Act
Low Income and Rural Areas
Production Tax Credit
Domestic Content
Energy Community
Qualifying Facilities
Qualified Small Business
Excess Business Loss
Excemptions
Penalty
