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In the News

Inflation Reduction Act – What It Means for Your Business

President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.

CORPORATE & BUSINESS TAX UPDATES

  • Corporate Alternative Minimum Tax
  • New Excise Tax on Stock Repurchases
  • Permanent Extension to Fund Black Lung Disability Trust Fund
  • Increase Research Credit Against Payroll Tax for Small Business
  • Reinstatement of Limitation Rules for Deduction for State and Local, etc., Taxes; Extension of Limitation on Excess Business Losses of Noncorporate Taxpayers
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