Surgent's The Inflation Reduction Act's Changes to Auto and Energy-Related Tax Credits

Overview

The Inflation Reduction Act (IRA) contains many changes to auto and energy-related credits as well as new credits and old credits that have been renamed. For instance, did you know that the IRA brings back a credit for installation of electric car chargers? Many if not most of these credits reduce the cost of individual- and business-related expenses. As a result of the changes brought about by the IRA, tax advisors have a full set of new and reformed credits to understand and explain to their clients.

This program covers the mechanics of all the new and revised energy-related credits clients will be asking about, such as credits related to personal autos, energy-efficient commercial vehicles, and household-related utilities and improvements. It will cover the new IRA changes related to electric car credits in detail, including the transition rules applying to clean vehicles purchased after the IRA’s August 16, 2022 enactment and their subsequent application in 2023 and thereafter. After attending, practitioners will be able to effectively advise their individual and business clients about these newly available money-saving opportunities. Don’t miss this chance to clearly enhance your practice.

Highlights

• The Energy-Efficient Home Improvement Credit
• Residential Clean Energy Credit
• The Alternative Fuel Vehicle Refueling Property Credit
• Comparison of Section 25C and Section 25D credits
• Changes to the Section 179D deduction
• Prevailing wage and apprenticeship requirements
• The new Energy Efficient Home Credit
• The Clean Vehicle Credit
• The Previously Owned Clean Vehicle Credit
• The Qualified Commercial Clean Vehicle Credit
• Application of written binding contracts
• Transfers of certain credits to an unrelated transferee
• Increase in Research Credit against payroll tax for small businesses
• What special rules apply to auto credits purchased after enactment
• How a purchaser of an energy-efficient auto claims the credit
• Transition rule for vehicles purchased before August 16, 2022

Prerequisites

None

Designed For

Accounting and finance professionals who need to advise clients on these new credits

Objectives

• Be familiar with all aspects of the credits emanating from the IRA
• Advise clients regarding individual and business planning related to these credits

Preparation

None

Notice

This on-demand webcast can be taken at any time of your choosing and is valid for one year from the date of purchase. No live instructor is present, and an exam is required to earn credit. You must score 70% or higher to earn the certificate.

How do I access my Self-Study Package?

Visit https://www.surgentcpe.com/login and enter your username (your LCPA email address) and password. If you do not remember your password, press the "Forgot?" button to receive a password reset email. Once logged in, the page will refresh to display your account menu on the left side.