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Volume 54, Number 4 April 2023
TAX CLINIC
Inflation Reduction Act of
2022: Prevailing wage and
apprenticeship requirements ........ 7
The new PLESA under
SECURE 2.0 ................................ 9
10 estate and income tax
questions .................................. 11
Determining compensation
deductions in M&A transactions . 15
A primer on cancellation-of-
debt income and exclusions ...... 17
Navigating partnership
continuations ............................. 19
Is a substitute for return a
return? ....................................... 21
PTE deduction: Timing issues
for accrual-method taxpayers ..... 23
Assessing the need for a
valuation allowance ................... 24
Improve fixed-asset
management with technology .... 26
DEPARTMENTS
TAX PRACTICE &
PROCEDURES ............................. 40
30 The CHIPS Act’s semiconductor DC CURRENTS ............................ 42
production credit CASE STUDY ................................ 46
By Adam Wallwork, Quynh Nguyen, Gary Hecimovich, Jeremy DeMuth, Matthew TAX TRENDS ................................. 50
Normington, and Andrew Black
This article summarizes the key features of the new Sec. 48D advanced
manufacturing investment tax credit and highlights key considerations for
manufacturers of semiconductors and semiconductor manufacturing equipment. Tax News
For the latest tax news, visit
On the cover and above: Images by Bloomberg Creative/Getty Images
TheTaxAdviser.com.
2 April 2023 The Tax Adviser
