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In honor of the first birthday of the Inflation Reduction Act (IRA), Jeff and Scott discuss the major provisions of the IRA, and references the episodes they have recorded about these provisions. They discuss the green incentives and their changing estimated cost, and, the three major way the IRA was intended to pay for those  incentives--a tax on adjusted financial statement income (which celebrated its first CAMT-iversary),  increasing the budget at the IRS,  and an excise tax on share repurchases.

They reference the following past coverage on IRA provisions on Tax Chats:

Episode 101: Transferable tax credits in the Inflation Reduction Act. A Chat with Gary Hecimovich

Episode 86: Tax Credit Markets: A Chat with Bryen Alperin

Episode 79: Taxing Stock Buybacks: A Chat with Daniel Hemel

Episode 76: How will corporations respond to the tax on book income? A chat with Todd Castagno

Episode 65: Un-Adjusting the Tax Code by Taxing Adjusted Financial Accounting Income in the Inflation Reduction Act

Episode 62: Does the IRS really have guns? Debunking some recent fear mongering

Episode 61: The Book Minimum Tax -- A Compilation of Thoughts

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The tax law allows taxpayers to trade one piece of property for another piece of property and not recognize any taxable gain. These exchanges are called like kind exchanges, and, in this episode, we chat about them with Eric Tellekamp, a managing director at BDO.

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Jeff and Scott chat with Jenny Williams, Tax Administrator with Chatham County, North Carolina. We discuss the ins and outs of property tax collection, including garnishing wages, repossessing assets, and foreclosing on real property. We talk about how the county manages to collect over 95% of property taxes owed. We bust a few myths about property taxes in the process. 

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We chat with  James Freeman about Filing for Freedom, a non-profit organization that helps military personal comply with the tax law by aiding in the tax return filing process. 

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Historian Ben Carp talks with us about the role of taxes in the American revolution. Among many other things, we discuss whether taxes were the only grievance the colonists had against Britain, how heavily the colonies were taxed relative to the English in England, and, most importantly, how much of a party was the Boston tea party.

Ben is the author of several books, including, relevant to our discussion today,

"Defiance of the Patriots: The Boston Tea Party & the Making of America"

and most recently, "The Great New York Fire of 1776: A Lost Story of the American Revolution"

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Scott and Jeff chat with Gary Hecimovich about the transferability of tax credits in the post-IRA world, including the markets for tax credits, and how non-profits can now take advantage of the new green energy incentives provided in the Inflation Reduction Act.

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Jeff and Scott Chat with Kelly Necessary, a Partner at FORVIS, a large public accounting firm.  We chat with Kelly about the role of automating routine tax tasks that historically have been very time consuming. We also talk about whether opening envelopes can be mechanized. 

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Scott and Jeff chat with Joel Slemrod, Professor of Economics at the University of Michigan about tax research over the past 30 years.

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In this episode, Scott and Jeff chat with Berkeley Professor of Marketing Sarah Moshary about the Pink Tax. Sarah and co-authors have written a paper that systematically examines the issue. 

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In this episode, Marna Ricker, Global Vice Chair -- Tax at EY joins us from the Milken Institute Global Conference 2003 to discuss the global tax landscape. We get Marna's perspective on the OECD's Base Erosion and Profit Shifting Project, the TCJA, and how AI might affect the world of tax practice.