Jump-Starting Clean Vehicles With The New Tax Credit

Electric cars charging at a charging station. 3d rendering. getty With the passage of the Inflation Reduction Act of 2022 (HR 5376), Congress created a credit for clean vehicle technology for which few, if any, vehicles on the market qualify. That has troubled the industry, but if a credit is intended to encourage the development … Read more

The Inflation Reduction Act Won’t Affect Most Americans’ Tax Bill

MENLO, IOWA – APRIL 12: President Joe Biden speaks to guests during a visit to POET Bioprocessing. … [+] (Photo by Scott Olson/Getty Images) Getty Images As Congress is about to pass the Inflation Reduction Act, Washington is once again having a breathless debate over very little. This one is about whether Democrats are violating … Read more

IRS To Add 87,000 New Agents, More Crypto Tax Enforcement

It’s no secret that the IRS is after crypto tax dollars and after fans of crypto who don’t report or who don’t do it correctly. The Inflation Reduction Act, which passed the Senate on Sunday, raises taxes and will give the IRS billions to go into what the Wall Street Journal called “beast mode.” In … Read more

What The IRS Funding In The Inflation Reduction Act Means For Taxpayers

Selective focus creates a three dimensional effect to the portrait by Gilbert Stuart. getty The race to pass the Inflation Reduction Act (HR 5376) is on, and while there’s plenty at stake for some corporate taxpayers, and those in the energy space in particular, the financial stakes are also high for the IRS. There is … Read more

The Tax Impact Of The Inflation Reduction Act

Closeup of the documents of the American Rescue Plan Act of 2021, a $1.9 trillion economic stimulus … [+] package proposed by President Biden to speed up the recovery. getty On Sunday, July 31, 2022 Senator Joe Manchin of West Virgina did a “full Ginsburg” that is he appeared on the five major Sunday morning … Read more

Electric Vehicle Tax Credits Likely To Get New Life And A Manchin Makeover

Sen. Joe Manchin talks with the media after a hearing on hydrogen pipelines CQ-Roll Call, Inc via Getty Images In a major win for automakers and future electric vehicle buyers, tax credits for the purchase of EVs are likely to get a new lease on life, thanks to a surprise deal between Sen. Joe Manchin … Read more