President Biden has signed into law the Inflation Reduction Act of 2022, the roughly $740 billion budget reconciliation package that includes a new book-minimum tax on certain large corporations, an excise tax on stock buybacks, a significant funding boost for IRS enforcement efforts, and a long-term extension of the Superfund excise tax, plus incentives to address climate change mitigation and clean energy and provisions to promote health care affordability.
Source Deloitte
