Inflation Reduction Act Knowledge Hub

President Biden signed the Inflation Reduction Act into law on Aug. 16, 2022, as part of a sweeping set of tax, climate and health care reforms. The bill, which includes several tax savings for individual taxpayers, includes a 15-percent corporate minimum tax on corporations making more than $1 billion in income. It also gives the IRS an extra $80 billion — to be invested in employees, IT systems and servicing taxpayers.   

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