August 18, 2022
EY Technical Line addresses ASC740 tax accounting considerations for the effects of the Inflation Reduction Act and the CHIPS and Science Act
President Biden signed into law the Inflation Reduction Act of 2022 on 16 August 2022 and the CHIPS and Science Act of 2022 on 9 August 2022. These laws implement new tax provisions and provide for various incentives and tax credits. The latest edition of EY's Technical Line covers ASC740 tax accounting considerations for the effects of these new laws.
Highlights in this edition include:
— For more information about EY's Tax Accounting services, visit us at www.ey.com/US/TaxAccounting
Technical Line for August 18, 2022