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U.S. Tax Laws: A Review of 2022 and a Look Ahead to 2023

February 22, 2023

Via: JD Supra

As we settle into the new year, let’s take a moment to first consider last year’s tax developments and then take a look ahead to what 2023 might have in store for us.

Review of U.S. Tax Developments in 2022

In 2022 we finally saw some movement on President Biden’s tax policy with the Inflation Reduction Act (IRA), which was signed into law on August 16. The IRA introduced a corporate alternative minimum tax based on financial statement income and an excise tax on stock buybacks, and increased Internal Revenue Service (IRS) funding.

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