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The Inflation Reduction Act and Taxes: What You Should Know

  • Accountant
  • AFSP
  • CRTP
  • CFP (US)
  • CGFM
  • CPA (US)
  • EA
  • HRCI
  • ORTP
  • CPA/PFS
  • SHRM
  • ChFC
  • MRTP
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CFIRS
  • CWS

Published: August, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Corporate minimum tax
    4 mins
  • Residential energy efficient property credit
    17 mins
  • Clean electricity investment credit
    20 mins
  • IRS Funding
    26 mins
  • PPP Statute of limitations
    40 mins

Course Description

Congress has passed the Inflation Reduction Act, a bill that makes many economic changes and also contains tax implications. The White House says the package will address inflation in two key ways: by lowering energy and health care costs for families and by helping to bring down the deficit.

The bill was the result of negotiations on the proposed Build Back Better Act, which had been reduced and comprehensively reworked from its initial proposal after receiving opposition from Manchin. It was introduced as an amendment to the Build Back Better Act and the legislative text was substituted.

The Inflation Reduction Act:

  • Expands Medicare benefits
  • Lowers energy bills
  • Makes historic climate investment
  • Lowers health care costs
  • Creates manufacturing jobs
  • Invests in disadvantaged communities
  • Closes tax loopholes used by wealthy
  • Protects families and small businesses making $400,000 or less

This CE/CPE webinar will cover those tax-related changes and also other important aspects of the bill. Also, we shall discuss other current tax topics such as Form 7203.

Here are Links to your interest: IRS-Approved CE courses | CTEC Approved CE Courses

Learning Objectives

  • To analyze the tax provisions of the Inflation Reduction Act.
  • To inspect the other non-tax aspects of the bill.
  • To identify other current trends in taxes such as Form 7203.
  • To discuss tax credits for people switching to cleaner energy sources.
  • To analyze how IRS will get a boost in funding, particularly to improve its customer service and tax enforcement.
  • To discuss tax Increases for Corporations and Individuals.

Recommended For

  • This IRS-Approved CE course is recommended for CPAs, EAs, AFSPs, and Other Tax Professionals who are interested in updating themselves about the latest Inflation Reduction Act.

Who Should Attend?

  • Annual Filing Season Program
  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Professionals
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1030)
  • 1 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01283-22-S)
  • 1 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01283-22-S)
  • 1 CE Credit of Federal Tax Law for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01283-22-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CPE Credit of Taxes for Certified Government Financial Manager (CGFM)
  • 1 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 1 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 1 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 1 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 602710)
  • 1 PDC Credit for SHRM Professionals (Approval No. 22-PRYUJ)
  • 1 CE Credit of Taxes for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit of Tax Planning for Certified Financial Planner (US) (Approval No. 305641)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Jason Dinesen, EA, LPA

President, Dinesen Tax & Accounting, P.C.

Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well known presenter of continuing education courses. He has an impeccable acumen for tax subjects, by virtue of which, he is known to create very well researched course materials helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries.

Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more.

He has presented over dozens of webinars on Form 1099 (MISC & R); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting.

Moreover, Jason is known to be producing every other webinar/course a little different and updated from the previous one. No wonder, he is a top ranked presenter whose webinars and self-study course materials are very well received by the audience. 

He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics. 

Jason always had a knack for radio shows and has and regularly features as an anchor for Radio Iowa. To reinvent this aptitude, he has recently started his own series of podcasts on myCPE ‘The Jason Show’, an edutainment podcast series that also provides continuing credits to the listeners.

Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 5 cats and 3 dogs. Jason holds season tickets to University of Iowa football, and enjoys using his chainsaw. Topmost item in his 2022 bucket list is to learn how to properly ‘nose & taste’ whisky. 

About Company

Dinesen Tax & Accounting, P.C.

www.dinesentax.com

Unlike some other accounting firms, when Dinesen Tax & Accounting, P.C. says we offer personal service, we mean it. When you come to us with your tax preparation needs, you’ll deal directly with our owner and president, Jason Dinesen. We don’t put administrative staff in the middle of you and our tax expert. That means you’ll always have first-hand knowledge of where things stand, and important information won’t slip through the cracks. We welcome all clients, but especially individuals who want the benefits of a long-term relationship with an accounting firm capable of handling anything that might come along with their taxes. We give all our clients the time, attention, and convenience they should expect. If you have a challenging professional or personal schedule, Jason will accommodate you by meeting whenever – and wherever – works best for you.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.5

187 Ratings

Excellent

113

Very Good

59

Average

14

Poor

0

Terrible

1

NB

Nicole Bartle, CPA (US)

Aug 16th, 2022

Jason is a great presenter. His tone keeps you engaged, his sense of humor is easy to understand and he exudes a lot of subject matter expertise. I've taken several sessions with him now and plan to do more in the future.

RM

Robin Michaelson, EA

Aug 16th, 2022

I would like to see more detailed webinars on this subject once everyone figures out what was included in this bill

BS

Brian Smith, CPA (US)

Aug 16th, 2022

I thought he did a great job hitting the knows and unknowns of the IRA, even added a few laughs!

MC

Michael Cook, Accountant, CFP (US), CPA (US), EA, Tax Professional, QB Pro Advisor, FPC, DPA

Aug 16th, 2022

Excellent delivery and most timely topic. Need more like this please.

RGGG

Rachelle G Grant Grant, CPA (US)

Oct 2nd, 2022

I always appreciate this presenter's views on tax topics

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