PODCAST

Podcast: IRA & CHIPS – IFRS® Accounting Standards

The next episode in our series on the new IRA and CHIPS legislation covers accounting under IFRS Accounting Standards.

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

Jenna Terrell

Jenna Terrell

Audit Managing Director, Dept. of Professional Practice, KPMG US

+1 617-988-5685

Podcast overview

Ashby Corum, KPMG Washington National Tax partner, and Jenna Terrell, KPMG Department of Professional Practice managing director, join host John Barbagallo in another installment of our podcast series on the accounting implications of the recently enacted IRA and CHIPS legislation under IFRS Accounting Standards. 

Applicability

  • Companies subject to US federal tax law that prepare financial statements in accordance with IFRS Accounting Standards

Relevant dates

Podcast contents

  • 00:15 – Introduction
  • 00:55 – New ways to monetize tax credits
  • 02:15 – Accounting for refundable, transferable, and nonrefundable, nontransferable credits
  • 05:40 – New Corporate AMT
  • 07:40 – Accounting for the new AMT
  • 09:20 – How the new excise tax on share repurchases works
  • 10:30 – Accounting for the new excise tax

 

Podcast: IRA & CHIPS – IFRS® Accounting Standards
Financial Reporting Podcast Transcript - March 2023