Description
Understand the Inflation Reduction Act timelines and how it compares to the current IRA version.
The passage of the Inflation Reduction Act of 2022 (IRA) has transformed energyefficient tax incentives for commercial real estate. The IRA will alter and amplify the 179D Deduction and the Section 45L Tax Credit. Moving forward, CPAs will need to be able to guide their clients in navigating these significant changes. Most provisions will take effect on 112023, but some have taken effect retroactively, so its crucial to understand the new program timelines. In this presentation, we will compare the current version of each incentive to the IRA version, addressing changes to reference standards, calculation of incentives, documentation procedures, and more. We will also discuss new exciting initiatives, including utility sales tax recovery, CPACE, and more. We will cover numerous reallife case studies, and a variety of reference tables and timelines will be provided.
Date: 2022-12-14 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to explain the requirements for claiming the 179D deduction under the old and new laws.
* You will be able to describe how the 179D deduction is calculated under the legacy program and the IRA.
* You will be able to identify other changes to 179D under the IRA, including the elimination of partial deductions and the establishment of deduction reset.
* You will be able to discuss solar energy incentives, the benchmarking process, and CPACE.