Infrastructure Bill Passes With Few Tax Changes


The new $1.2 trillion Infrastructure Bill finally passed by Congress over the weekend—after months of kicking around this political football. While there are limited tax implications, it does provide massive investments in various segments of American society. It now awaits President Biden's signature.

Nov 8th 2021
Share this content

With Congress’s passage of the Infrastructure Bill, it seems several controversial tax changes have been restricted to the Reconciliation Bill, which has yet to be finalized.

By and large, the Infrastructure Bill doesn’t touch on tax aspects, although you can expect a slew of tax provisions to be included in the reconciliation legislation, if enacted.


That said, here are a few tax-related implications from the Infrastructure Bill. First and foremost, it does eliminate the employee retention credit (ERC) for the last quarter of 2021. Wages paid after September 30, 2021 won’t qualify for the ERC. Previously, it was set to last through the end of the year.

In addition, the Infrastructure Bill requires tax reporting of crypto currency transactions, requiring all digital asset transactions worth more than $10,000 to be reported to the IRS. The agency is expected to issue guidance in the near future.

Finally, the Bill also extends several highway-related taxes, extends and modifies certain Superfund taxes and permits private activity bonds for qualified broadband projects and carbon dioxide facilities. 

Register for free to continue reading

It’s 100% free and provides unlimited access to the latest accounting news, advice and insight every day. As well as access to this exclusive article, you can:

Content lock down, tick icon

View all AccountingWEB content

Content lock down, tick icon

Comment on articles

Access content now

Already have an account?

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.