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IRS Issues Guidance for Inflation Reduction Act Low-Income Bonus Tax Credits

On February 13, 2023, the Internal Revenue Service (“IRS”) issued its “initial guidance” regarding the Low-Income Communities Bonus Credit Program (the “Program”) established by the Inflation Reduction Act of 2022 (the “IRA”)...more

Tax Law Changes in the Inflation Reduction Act of 2022 (H.R. 5376)

On August 7, 2022, the Senate passed the Inflation Reduction Act of 2022 (H.R. 5376) (the “Reconciliation Bill”) on a party line vote with the deciding vote cast by the Vice President. The Senate’s passage of the...more

Congress Extends Renewable Energy Tax Credits in 2021 Omnibus Spending Bill

As Congress was completing final negotiations of the stimulus package dealing with the public health and economic impacts of the coronavirus pandemic, several key energy provisions made their way into the 5593-page omnibus...more

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