Tax implications of the new Inflation Reduction Act Jeffrey H. Paravano
By: Paravano, Jeffrey H
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Material type: 
ArticleSubject(s): INFLACION | REDUCCION | LEGISLACION | POLITICA FISCAL | TIPO MÍNIMO GLOBAL | IMPUESTO DE SOCIEDADES | ESTADOS UNIDOS
In:
Journal of Taxation of Investments v. 40, n. 1, Fall 2022, p. 3-15Summary: The Inflation Reduction Act has tax implications for both domestic and multinational corporations. The excise tax on corporate stock repurchases is both novel and surprising, but less so than the 15 percent corporate minimum tax on book income, which fails to align in important ways with OECD efforts to establish a global minimum tax in accordance with the so-called “Pillar Two” OECD proposal. Increased IRS funding is likely to improve customer service but also to increase the volume of tax controversies and the amount of tax controversy work for tax practitioners. And the sheer magnitude of green energy credits is likely to be both transformative and disruptive to the now booming green energy industry.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 235/2022/40/1-1 (Browse shelf) | Available | OP 235/2022/40/1-1 |
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Resumen.
The Inflation Reduction Act has tax implications for both domestic and multinational corporations. The excise tax on corporate stock repurchases is both novel and surprising, but less so than the 15 percent corporate minimum tax on book income, which fails to align in important ways with OECD efforts to establish a global minimum tax in accordance with the so-called “Pillar Two” OECD proposal. Increased IRS funding is likely to improve customer service but also to increase the volume of tax controversies and the amount of tax controversy work for tax practitioners. And the sheer magnitude of green energy credits is likely to be both transformative and disruptive to the now booming green energy industry.
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