Inflation Reduction Act

Overview

The Inflation Reduction Act (IRA), enacted in 2022, was designed to lower consumer energy costs and reduce climate impact through economic incentives. It offered tax incentives for energy-efficient home improvements, electric vehicle purchases, health insurance coverage, natural gas fueling devices, and clean energy generation. This course covers these provisions, focusing on tax credits, expanded health insurance premium tax credits, and the limitation on noncorporate taxpayer excess business losses. However, the OBBBA revised or eliminated certain of the IRA provisions. Those OBBBA provisions will be examined in this course. 

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Regulator 

 

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Learning Objectives

  • Apply the changes made to the Inflation Reduction Act by the One Big Beautiful Bill Act
  • Identify and calculate certain tax credits available as a result of the IRA
  • Recognize the requirements and tax rules applicable to electric vehicles and qualified refueling property
  • List the clean energy and efficiency incentives
  • Apply the rules applicable to the expanded health insurance premium tax credit
  • Recognize the limitation of noncorporate taxpayer excess business losses


Designed For:

CPAs, Enrolled Agents, tax professionals, accountants, and other financial professionals 


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Course Information

Adding additional credit may change exam requirements.

Advanced Preparation: None