Podcast: IRA & CHIPS nonrefundable and bonus credits

This installment in our series on the new IRA and CHIPS laws covers accounting for nonrefundable and bonus credits.

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 in another installment of our podcast series on the accounting implications of the recently enacted IRA and CHIPS legislation – with a focus on nonrefundable and bonus tax credits. 


  • All US taxpayers using nonrefundable credits in the IRA legislation

Relevant dates

Podcast contents

  • 00:35 - Introduction
  • 00:55 - How do nonrefundable credits work?
  • 01:55 - Accounting for non refundable credits
  • 05:50 - What are bonus credits and how do they work?
  • 07:20 - Bonus credit recapture
  • 07:45 - Accounting for bonus credits
  • 09:05 - What happens to the bonus credits if a company's fact pattern changes?