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October 20, 2022
2022-1592

Wednesday, November 2 | IRA and CHIPS and Science Act update: A deeper dive into the tax credits and grants (1 pm ET)

Since the enactment of the Inflation Reduction Act of 2022 (IRA) and the CHIPS and Science Act of 2022 (CHIPS) a few months ago, companies have begun looking more closely at the requirements for claiming the Acts' tax credits and grants. Many have similar questions about how the requirements work, as well as the applicability, timing and process for disbursement of these incentives.

Join our team of Ernst & Young LLP subject matter professionals for a deep dive into the technical aspects of these incentives, including:

  • Example projects that may qualify for both Sections 48C and 45X, with a focus on two scenarios — one in which Section 48C may deliver more value and one in which Section 45X may deliver more value
  • The credits' various compliance requirements, including common themes related to tracking the prevailing wage, apprenticeship hours, domestic content sourcing and energy communities
  • Leading practices for tracking and reporting required information
  • Recent IRS notices requesting feedback
  • Key considerations for Section 48D in the CHIPS Act
  • The tax treatment of the tax credits and implications for the IRA's Corporate Alternative Minimum Tax
  • Federal grant funds flowing to commercial entities
  • Federal grant funds flowing to economic development and other state and local agencies (such as the CHIPS allocation for technology hub communities)
  • Leading practices related to site selection and state and local incentives

Date: Wednesday, November 2, 2022

Time: 1:00-2:15 p.m. ET New York; 10:00-11:15 a.m. PT Los Angeles

Registration: View archive here.

Panelists

Tony DeLisi, Managing Director, Economic Development Advisory Services, Ernst & Young LLP

Akshay Honnatti, Senior Manager, US Sustainability Tax Leader, Ernst & Young LLP

Dorian Hunt, Managing Director, Indirect Tax Credits & Incentives, Ernst & Young LLP

Leslie Macek, Partner, Indirect Tax Credits & Incentives, Ernst & Young LLP

Scott Mackay, Partner, BTS Services, Ernst & Young LLP

Dan Penrith, Partner, Global Compliance and Reporting, Ernst & Young LLP

Brian Smith, EY Global/Americas Location Investment, Credits & Incentives and US Indirect Tax Inbound Leader

Moderator

Paul Naumoff, Principal, Ernst & Young LLP and EY Global Sustainability Tax Co-Leader and Global Location Investment, Credits & Incentives Services Leader

CPE credit offered: 1.4. Recommended field of study: Taxes. Learning objectives: Identify federal incentive opportunities in the IRA and CHIPS and Science Act and how they might apply to business operations; recognize the timing and process for disbursement of these federal incentives and how they may be coupled with state and local tax credits and incentives. This intermediate-level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

EY webcast managed and produced by Ernst & Young LLP's Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax | lynn.fairfax@ey.comand Barbara Kirchheimer | Barbara.Kirchheimer@ey.com

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