As we enter 2023 and the 2022 tax filing season, there have been many changes related to specialty tax that CPAs and their Clients need to be aware of while doing tax planning. These issues include increased funding for the IRS, changes to credits and deductions under the Inflation Reduction Act of 2022, and the status of tax extenders.
On Thursday, December 22nd the Senate passed the Omnibus budget bill and the House is expected to pick it up quickly. One section glaringly missing from this large piece of legislation is tax extenders. With the extenders not passing it is important to review what this means for taxpayers.
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As we enter 2023 and the 2022 tax filing season, there have been many changes related to specialty tax that CPAs and their Clients need to be aware of while doing tax planning. These issues include increased funding for the IRS, changes to credits and deductions under the Inflation Reduction Act of 2022, and the status of tax extenders. In this webinar, Dave McGuire and Jerry Hammel will discuss what CPAs and their clients need to be aware of as it relates to Global Business Services, Research Tax Credits, Depreciation, and Energy Credits and Deductions including 179D and 45L.
In this webinar, attendees will be provided:
– An update on the status of Tax Extenders and expiring provisions from the TCJA
– An update on changes related to the Inflation Reduction Act of 2022
– Planning opportunities provided by these changes
– An overview of how increased IRS funding could affect Specialty Tax moving forward