Once again, tax legislation is front and center in Washington. In August, Congress passed and the President signed into law the “Inflation Reduction Act,” which contained a number of important and complex tax changes affecting corporations and individuals, including a new 15% minimum tax on book income, a particularly important development given its similarity in name, but not operation, with separate work at the OECD to create a global minimum tax (Pillar Two) and to address the increasing digitization of the economy (Pillar One). In addition, many other tax policy proposals, like the new Section 174 R&D rules, may be addressed in a post-election Lame Duck session later this year. This page is designed to help you keep abreast of legislation and understand its impact through insights from trusted Deloitte tax specialists.

Check back often for updates on the tax debate and policy rollout.

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Sustainability-related tax provisions in the Inflation Reduction Act

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (the “Act”), which includes incentives to promote climate change mitigation and clean energy. The Act includes significant changes to credit eligibility requirements and new options for credit utilization that will meaningfully impact the project finance and development landscape of the energy transition. Our new report details the notable sustainability-related credits and incentives provisions under the Act and provides important and potentially time-sensitive considerations.

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The deep skill of Deloitte tax specialists with the analytical power of our technology solution to help companies assess potential implications.

Sustainability-related tax provisions in the Inflation Reduction Act

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The Inflation Reduction Act: Sustainability credits

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The Inflation Reduction Act: Advanced manufacturing credits

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