New Resource from Bloomberg Tax for the Inflation Reduction Act of 2022

New Watch Page Helps Tax Practitioners Understand and Implement New Provisions

ARLINGTON, Va., Aug. 31, 2022 /PRNewswire/ -- Bloomberg Tax today announced the availability of a new Inflation Reduction Act of 2022 Watch Page to help tax practitioners understand and execute needed changes due to key tax elements in the new budget reconciliation law H.R. 5376. For more information and to schedule a demo, visit http://onb-tax.com/SWHe50Kw2Ye.

The new Inflation Reduction Act of 2022 Watch Page covers key tax provisions, including extension of the expanded Affordable Care Act health plan premium assistance program through 2025, an excise tax on stock buybacks, increased funding for IRS tax enforcement, expanded energy incentives, and a new corporate alternative minimum tax.

The new Watch Page features a Roadmap, which distills down the key tax components of the legislative changes in this sweeping social spending and tax package, with links to the updated Internal Revenue Code sections and other key documents. Bloomberg Tax's team of analysts and reporters provide the latest news, practitioner Insights, and OnPoints, which highlight key considerations for planning and impacts on businesses. Practitioners can leverage the tools on the Watch page and Bloomberg Tax's expert-written portfolios to navigate the significant changes made by the new law and optimize their position through scenario analysis.

"Bloomberg Tax's new Inflation Reduction Act of 2022 Watch Page is a key resource for tax planning," said Heather Rothman, vice president for analysis and content, Bloomberg Tax & Accounting. "Placing all of this essential content together in one place allows practitioners to quickly find what they need on critical tax provisions including the $10,000 cap extension on SALT deductions, the 15% minimum tax on the income corporations report on their financial statements, the extension of Affordable Care Act health insurance premium tax credits, and dozens of other tax law changes."

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SOURCE Bloomberg Tax & Accounting