The tax law continues to develop in complex and novel ways and keeping on top of changes and guidance is essential. The New York State Bar Association Tax Section will host leaders from both the Treasury Department and Internal Revenue Service during our annual meeting Jan. 16–20 in New York City. Guest speakers include IRS Commissioner Daniel Werfel and Erika Nijenhuis, senior counsel, Office of Tax Policy at the U.S. Department of Treasury.

Both agencies are considering guidance under a range of provisions included in the Inflation Reduction Act of 2022 (IRA). This includes guidance under the provisions of that law dealing with clean energy credits, some of which are transferable under a new regime that the IRA adopted. The Treasury Department and the IRS are also working on guidance under the corporate alternative minimum tax and stock buyback tax enacted in the IRA.