The Inflation Reduction Act

Webinar Is Today! You Can Still Register As Webinar Begins In Less Than One Hour
Date: April 26th
Time: 12:00PM EST
Webinar Title:The Inflation Reduction Act of 2022: Transforming 179D and 45L
CPE Credit For Attendees: 1 CPE Credit
Field of Study: Taxes
Program Level: Beginner/Intermediate
Cost: Compliments Of Capstan Tax, Complimentary Education

The passage of the Inflation Reduction Act of 2022 (IRA) has transformed energy-efficient tax incentives for commercial real estate. The IRA will alter and amplify both the 179D Deduction and the Section 45L Tax Credit. In this all-new webinar, we will compare the current version of each incentive to the “IRA Version” of the incentive, addressing changes to reference standards, calculation of incentives, documentation procedures, and more. New exciting initiatives including utility sales tax recovery, C-PACE, and more will also be discussed. Numerous real-life case studies will be reviewed, and a variety of reference tables will be provided.

Learning Objectives:
• Compare the requirements for claiming the 179D deduction under both the old and new laws
• Understand how the 179D deduction is calculated under the Legacy Program and under the IRA
• Recognize other changes to 179D under the IRA, including the elimination of partial deductions and theestablishment of deduction reset
• Compare the requirements for claiming the 45L Tax Credit under both the old and new laws, and theassociated differences for single-family and multifamily dwelling units
• Become familiar with solar energy incentives, the benchmarking process, and C-PACE
• Learn about NYC’s Carbon Emissions Bill, and recognize potential implications in New York and beyond
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What The Inflation Reduction Act Means for You

The Inflation Reduction Act, which includes expanded or extended tax credits and additional funding for the IRS, was signed into law on August 16, 2022.

How could the Inflation Reduction Act impact you when filing your next tax return?

Below is a simplified summary of how the Inflation Reduction Act may affect you.

Health Care

The Inflation Reduction Act includes:

  • Extension of Affordable Care Act (ACA) funding through 2025. This funding, which was due to expire at the end of 2022, will allow consumers to continue to buy insurance with lower premiums through the Health Insurance Marketplace (also referred to as the Marketplace or the Exchange).
  • Extension of the American Rescue Plan Act (ARPA) temporary exception that allows taxpayers with incomes above 400 percent of the Federal Poverty Level to qualify for the Premium Tax Credit.

Energy Efficient Home Improvement Credit

The Nonbusiness Energy Property Credit was extended through 2032 and renamed the Energy Efficient Home Improvement Credit.

Starting in 2023, the credit will be equal to 30 percent of the costs of all eligible home improvements made during the year. Additionally:

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