Special edition: Update on recent tax legislation

Nov 12, 2021

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The Infrastructure Investment and Jobs Act was approved in the House of Representatives on Nov. 5, 2021 and is headed to President Joe Biden's desk to be signed into law. The House passed the legislation by a 228–206 vote after it passed the Senate by a 69–30 vote in August.

In this Tax Section Odyssey episode, April Walker, CPA, CGMA, from the AICPA Tax Section, highlights major tax-related items contained in the bill and shares several resources available for practitioners to navigate the provisions.

What you’ll learn in this episode

Status of the enactment of the Infrastructure Investment and Jobs Act (0.25)
Early termination of the employee retention credit (ERC) (0.56)
Cryptocurrency reporting (1.58)
Build Back Better Act legislation status and related resources (3.30)
Additional AICPA year-end resources (4.31)

AICPA resources

Year-End Tax Planning Letter for Individual Clients — Use this letter template to get the conversations started with your individual tax clients to help them take a fresh look at their current and future financial health.
Year-End Tax Planning Letter for Small Business Clients — This small business client letter template provides a handy list of key considerations for this year that your clients need to factor in for next year and a jumping off point for them to contact you as their tax and financial planning adviser.
2021 Tax Year in Review Presentation for Clients — A presentation to use as a touchpoint with your clients to update them on various tax law changes and year-end reminders and encourage them to talk with you about their long-term financial plans. This template also works as a starting point for presentations to networking groups, rotary clubs, chambers of commerce and many other groups.
CPA Marketing Toolkit — A toolkit to help you communicate with prospects and clients throughout your career to help you demonstrate your strength as a trusted adviser, assisting with all aspects of your clients’ financial situations.
Build Back Better Act: Where we are now — Recorded on Nov. 8, 2021, Bob Keebler, CPA/PFS, reports on the latest with the Build Back Better Act. Bob will also be speaking on a related webcast on Nov. 17, 2021.

Note: If your podcast app does not hyperlink to resources, visit https://taxodyssey.libsyn.com to access show notes with direct links.

This episode is brought to you by the AICPA’s Tax Section, your home base to maintain your professional edge. To learn more about the Tax Section, check out aicpa.org/tax or sign up for a free web tour.