The Inflation Reduction Act of 2022 created new opportunities both in renewed and brand-new energy tax credits. It also offered new methods through which these credits can be claimed, as a Section 6417 direct payment to...more
The Inflation Reduction Act of 2022 created new opportunities both in renewed and brand-new energy tax credits. It also offered new methods through which these credits can be claimed, as a Section 6417 direct payment to...more
The Inflation Reduction Act of 2022 (IRA) extended and modified a federal investment tax credit for advanced energy manufacturing projects under Section 48C of the Code. Section 48C provides incentives for clean energy...more
The Inflation Reduction Act of 2022 (IRA) created a 10% tax credit adder to encourage the use of “domestic content” in renewable projects that qualify for the production tax credit (PTC) and investment tax credit (ITC)....more
The Inflation Reduction Act of 2022 (IRA) created several new tax incentives to encourage the development of clean energy projects that would benefit specific communities. Among these incentives, Congress included a tax...more
Direct pay and transferability for energy tax credits have been available since Jan. 1, 2023, but credit transactions using these provisions have been slow to materialize due to lack of Treasury or IRS guidance. On March 22,...more
The Inflation Reduction Act of 2022 (IRA) created several new tax incentives to encourage developing clean energy projects that would benefit underserved communities and individuals. Among these incentives, Congress included...more
As tax season approaches, cryptocurrency investors and their advisors are facing heightened scrutiny. The New York State Office of the Attorney General recently announced its commitment to hold “cryptocurrency tax cheats...more