Podcast: IRA & CHIPS legislation accounting overview

With enactment of IRA & CHIPS, new accounting questions arise. Our first podcast in a series summarizes what’s coming.

John Barbagallo

John Barbagallo

Managing Director, Dept. of Professional Practice, KPMG US

+1 212-954-7258

Ashby Corum

Ashby Corum

Partner, Washington National Tax, KPMG US

+1 313-230-3361

Angie Storm

Angie Storm

Deputy Chief Accountant, Dept. of Professional Practice, KPMG US

+1 212-909-5488

Podcast overview

Ashby Corum, KPMG Washington National Tax partner, and Angie Storm, KPMG Department of Professional Practice partner join host John Barbagallo on this first installment of a podcast series on the accounting implications of the recently enacted IRA and CHIPS legislation. 


  • All US taxpayers
  • Any entities conducting share repurchases in the US

Relevant dates

Podcast contents

  • 00:25 - Introduction
  • 01:00 - New ways to monetize tax credits
  • 02:55 - Accounting for refundable and transferable credits
  • 06:15 - How the new excise tax on share repurchases works
  • 07:40 - Accounting for the new excise tax
  • 09:40 - A new alternative minimum tax (AMT) regime
  • 10:45 - Accounting for the new AMT