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Tax law changes in the “Inflation Reduction Act of 2022”

KPMG analysis and observations (August 2022)
 

“Build Back Better Act” tax proposals in House bill

KPMG summary and analysis
 
Tax proposals in Biden Administration’s FY 2022 budget

Tax proposals in Biden Administration’s FY 2022 budget

KPMG analysis and observations (May 2021)
 

Recent Articles (2023)

Mar 14 - KPMG report: Analysis and observations of tax proposals in Biden Administration’s FY 2024 budget

Mar 9 - KPMG report: Initial impressions of tax proposals in Biden Administration’s FY 2024 budget

Mar 9 - FY 2024 budget: “Green Book”—Treasury’s explanation of tax proposals

Mar 9 - Administration releases FY 2024 budget recommendations

Feb 7 - President Biden issues statement on economic plan, including tax proposals

2022 Articles

Aug 16 - President signs budget reconciliation legislation; KPMG’s report on tax law changes

Aug 12 - House passes reconciliation bill with tax provisions

Aug 10 - KPMG report: Initial analysis and observations about tax law changes in budget reconciliation bill (as passed by Senate)

Aug 9 - President signs CHIPS legislation that includes advanced investment tax credit for semiconductor manufacturing

Aug 9 - Legislative text of reconciliation bill with tax provisions

Aug 7 - Senate passes reconciliation bill with tax provisions

Jul 28 - House passes CHIPS bill with advanced investment tax credit for semiconductor manufacturing

Jul 27 - Updated: Reported agreement on Senate reconciliation bill, legislative text and summary of bill

Jul 27 - Senate passes CHIPS bill, includes advanced investment tax credit for semiconductor manufacturing

Jul 25 - JCT revenue estimates of tax proposals in Biden Administration’s FY 2023 budget

Jun 22 - Senate Finance approves retirement tax legislation

Apr 4 - KPMG report: Tax proposals for exempt organizations in Biden Administration’s budget for FY 2023

Mar 30 - KPMG report: International tax proposals in Biden Administration’s budget for FY 2023

Mar 28 - KPMG report: Initial impressions of tax proposals in Biden Administration’s budget for FY 2023

Mar 28 - FY 2023 budget: “Green Book”—Treasury’s explanation of tax proposals

Mar 28 - FY 2023 budget: Initial document is released

2021 Articles

Dec 12 - Senate Finance releases revised text of “Build Back Better Act”

Dec 11 - Preliminary text of Senate Finance’s portion of “Build Back Better Act”

Dec 3 - KPMG report: Financial statement and potential U.S. GAAP implications of tax proposals in “Build Back Better Act”

Nov 19 - House passes “Build Back Better Act” with tax measure (updated KPMG report)

Nov 15 - President signs bipartisan infrastructure bill, tax provisions are enacted

Nov 11 - KPMG report: “Build Back Better Act” tax proposals in pending House bill

Nov 5 - House passes bipartisan infrastructure bill with tax provisions, completing congressional action

Nov 4 - JCT revenue estimate of tax provisions (as modified) in “Build Back Better Act”

Nov 3 - House Democrats propose more modifications to “Build Back Better Act”

Oct 28 - House Rules Committee releases updated version of the “Build Back Better Act” (initial impressions)

Oct 28 - House Rules Committee releases new legislative text for “Build Back Better Act”

Oct 27 - Senate Finance Chairman Wyden unveils “billionaires income tax”

Oct 26 - Senate Finance Chairman Wyden introduces “corporate profits minimum tax”

Oct 19 - KPMG report: Proposed reinstatement of superfund taxes; three excise taxes for petroleum and chemicals industries, but double the rates

Sep 28 - House Budget Committee’s report on “Build Back Better Act” (the reconciliation bill)

Sep 17 - KPMG report: Senate Finance Chairman Wyden discussion draft to reform taxation of passthrough entities

Sep 16 - KPMG report: Tax proposals for budget reconciliation legislation approved by Ways and Means

Sep 15 - Ways and Means approves tax title to Build Back Better Act

Sep 14 - KPMG report: Ways and Means tax proposals relating to infrastructure, energy, housing, retirement, and social safety net

Sep 13 - JCT estimated budgetary effects, technical explanation of revenue-raising Ways and Means proposals

Sep 13 - Ways and Means releases additional proposals for markup, including tax increases

Sep 11 - JCT descriptions, estimated budgetary effects of Ways and Means proposals

Sep 11 - Ways and Means releases additional proposals for markup, including tax credits and incentives

Sep 10 - Senate Finance Chairman Wyden proposes excise tax on stock buybacks

Sep 10 - Senate Finance Chairman Wyden releases discussion draft on reforming taxation of passthrough entities

Sep 7 - Ways and Means announces first part of budget reconciliation markup, includes qualified plan proposals

Aug 24 - U.S. House passes budget resolution; implications for major tax legislation

Aug 16 - KPMG report: Tax provisions for banking industry in Biden Administration’s FY 2022 budget proposals

Aug 11 - U.S. Senate passes budget resolution; implications for major tax legislation

Aug 10 - Senate approves infrastructure bill, including tax provisions

Jul 1 - KPMG report: Healthcare-related tax provisions in Biden Administration’s FY 2022 budget proposals

Jun 28 - KPMG report: Inbound tax provisions in Biden Administration’s FY 2022 budget proposals

Jun 28 - KPMG report: Tax provisions for asset management industry in Biden Administration’s FY 2022 budget proposals

Jun 18 - KPMG report: Energy and natural resources, tax provisions in the Biden Administration’s FY 2022 budget proposals

Jun 18 - KPMG report: Insurance tax provisions in the Biden Administration’s FY 2022 budget proposals

Jun 16 - KPMG report: Tax provisions that may affect individual taxpayers in the Biden Administration’s FY 2022 budget proposals

Jun 14 - KPMG report: Planning in advance for Biden Administration’s proposed increased tax rates

Jun 14 - KPMG report: Treasury releases the American Families Plan tax compliance agenda

Jun 4 - KPMG report: Biden Administration’s tax plan and implications for real estate industry

May 31 - KPMG report: Analysis and observations of tax proposals in Biden Administration’s FY 2022 budget

May 28 - KPMG report: Initial impressions of tax proposals in Biden Administration’s budget for FY 2022

May 28 - Green Book—Treasury’s explanation of tax proposals in FY 2022 budget

May 28 - Biden Administration’s budget proposals for FY 2022

May 20 - KPMG report: Tax reform proposals—BEAT down, SHIELD up

May 20 - Treasury’s report on proposed tax compliance measures; addressing the “tax gap”

May 3 - KPMG report: Outlook for what’s ahead for energy tax incentives (updated)

Apr 28 - President Biden announces American Families Plan, individual tax proposals

Apr 28 - Treasury proposals for tax administration reforms

Apr 14 - Comparing Biden and Wyden international tax proposals (KPMG chart)

Apr 14 - Updated charts reflecting provisions in President Biden’s business tax proposals

Apr 7 - U.S. Treasury releases report “Made in America Tax Plan”

Apr 5 - Senate Finance Committee chairman, Democratic members: Framework on overhauling U.S. international taxation

Mar 31 - President Biden announces plans with major business tax proposals

Feb 26 - KPMG report: Outlook for what’s ahead for energy tax incentives

Feb 2 - KPMG report: Biden Administration and the 117th Congress; possible tax legislation

Jan 14 - President-elect Biden announces “American Rescue Plan”—includes tax components

Jan 6 - KPMG report: Tax policy implications of possible Democratic Senate

KPMG reports

 
 
 
May 31, 2021 - KPMG report: Analysis and observations of tax proposals in Biden Administration’s FY 2022 budget [PDF 1.4 MB] (116 pages) (in addition, the items below provide "mini-booklets" with descriptions of tax provisions in the administration's FY 2022 budget concerning certain taxpayers, industries or sectors)


February 4, 2021 - KPMG report: Biden Administration and the 117th Congress; possible tax legislation [PDF 2.4 MB] (29 pages)

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