The Inflation Reduction Act introduced transferable federal energy tax credits, with guidance for implementation released mid-2023. This clarifies the process for transferring energy-related tax credits and aims to promote growth in the clean energy sector.
Decarbonizing commercial real estate is becoming an industry-wide imperative. Tax incentives in the Inflation Reduction Act give taxpayers several options to offset the cost of energy-efficient upgrades.
The Inflation Reduction Act modified or introduced several energy efficient tax incentives, like the newly created Section 48(e) renewable energy investment tax credit. The base amount can be increased by several optional bonus credits.
Tax-exempt entities may monetize credits under the Inflation Reduction Act under these rules that the IRS released.
From corporate tax changes to clean energy tax credits, the 179D commercial building deduction, and more, the Inflation Reduction Act contains a myriad of tax law changes for 2023 and beyond. This article details 12 tax changes likely to impact most taxpayers.
179D, a popular energy efficiency tax incentive, has been expanded and upgraded in 2022’s Inflation Reduction Act. From new deduction amounts to prevailing wage requirements, learn about changes to 179D.
Learn about changes to the Clean Vehicle Credit which makes it more complicated to qualify for the full tax credit, including manufacturer requirements, the impact of income thresholds and the effort to promote US manufacturing.
Three large pieces of legislation have been passed in the last 15 months with a collective goal of revitalizing and revamping domestic infrastructure, advanced manufacturing, and clean energy. There are many various impacts to the construction and real estate industry.
The Inflation Reduction Act retroactively reinstated 45L for 2022 and extended the credit through 2032. For the 2022 tax year, projects follow the same eligibility rules. Beginning in January 2023, more stringent energy efficiency requirements will be in place.
For businesses contemplating a commercial project, the §179D deduction, a provision from the Inflation Reduction Act, is now available for any qualifying commercial energy-efficient building.
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