Tax News Update    Email this document    Print this document  

December 19, 2022
2022-1914

Treasury lists timeline for IRA guidance projects to be accomplished in final days of 2022

Treasury has announced a timeline for providing additional information on key tax provisions of the Inflation Reduction Act (IRA). By December 31, 2022, Treasury intends to provide: (1) frequently asked questions for consumers on the tax credit for energy-efficient home improvement projects and residential energy property; (2) initial guidance on the corporate alternative minimum tax; (3) initial guidance on the stock buyback excise tax; and (4) information on the anticipated direction of the critical mineral and battery component requirements that vehicles must meet to qualify for IRA tax incentives.

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement