The IRA is the most significant US tax legislation since the TCJA. I'm paying close attention to the 15% corporate minimum tax, $7,500 EV credit with new domestic sourcing rules, expanded home energy credits, and $80B in IRS funding. For my cross-border clients, several of these provisions change the planning calculus.
I keep a close eye on developments like these so my clients don't have to. Tax law changes can significantly affect your filing strategy, and I believe the earlier you understand them, the better positioned you are to plan effectively.
Whether you file in Canada, the United States, or both, staying current on these changes is essential. In my cross-border practice, I've seen firsthand how policy shifts in one country can create unexpected obligations — or opportunities — in the other.
If you have questions about how this affects your specific situation, please don't hesitate to reach out. I'm here to help you navigate these changes and make the best decisions for your financial future.