Corrigan Krause

Inflation Reduction Act – What it Means for Individual Taxpayers

The Inflation Reduction Act included a number of items for businesses, but what about individual taxpayers? Overall, the Inflation Reduction Act included a number of credit updates and other extensions that affect individuals

CORPORATE & BUSINESS TAX UPDATES

• Corporate Alternative Minimum Tax
• New Excise Tax on Stock Repurchases
• Permanent Extension to Fund Black Lung Disability Trust Fund
• Increase Research Credit Against Payroll Tax for Small Business
• Reinstatement of Limitation Rules for Deduction for State and Local, etc
• , Taxes; Extension of Limitation on Excess Business Losses of Noncorporate Taxpayers