Inflation Reduction Act Resource Center

With nearly $370 billion in investments to the renewable energy space, the Inflation Reduction Act (IRA) of 2022 is a game changer, making clean energy projects more accessible, and attractive, to more entities and investors. From advanced manufacturers and private equity firms to tax credit purchasers and investors, there are an abundance of opportunities — and complexities — to dive into.

Federal tax credits are a clear enticement of the IRA, offering the unique characteristic of transferability and opening the door to direct pay to monetize credits as well. But that’s not all the IRA has to offer. There are opportunities, and of course challenges, when it comes to business structuring, state and local tax issues, agreed-upon procedures and more. See below for a variety of resources to help you better understand all the IRA has to offer and how you can maximize this landmark legislation.

Featured Cohen & Co Insights

More Cohen & Co Insights

• New Advanced Energy Project Tax Credits Under the Inflation Reduction Act (Posted in the AICPA Tax Adviser's "Tax Clinic" (8/1/23))
• How the IRA’s Changes to the Section 45L Tax Credit Can Aid Home Developers (6/14/23)
• IRS Clarifies Qualifying Projects for New Energy Tax Credits Under the Inflation Reduction Act (6/14/23)
• How the Inflation Reduction Act is Supercharging Section 179D Deductions for Commercial Real Estate (5/23/23)
• How the Inflation Reduction Act Simplifies Monetization of Key Energy Tax Credits (5/4/23)
• What Prevailing Wage and Apprenticeship Requirements Mean for Energy Tax Credits (4/5/23)
• How You Can Qualify for “Bonus Credits” from the Inflation Reduction Act  (3/30/23)
• How to Apply for New Energy Tax Credits Under the Inflation Reduction Act  (3/1/23)
• How to Document Your Eligibility for PTC and ITC Energy Tax Credits  (9/13/22)
• 15 Takeaways from the Inflation Reduction Act’s Clean Energy Tax Incentives  (8/26/22)
• 5 Areas Taxpayers Should Understand About the Inflation Reduction Act (8/19/22)
  
  

The IRA’s bonus and enhanced renewable energy tax credits provide competitive incentives and cash flow opportunities for many companies. In some cases, previously ineligible businesses can now qualify.

Our IRA Services

• Federal, state, and local tax compliance and planning, including:
  • Tax credits and incentives 
  • Research and development tax credit expense analysis and eligibility
  • Nexus determination and apportionment
  • Sales and use tax
  • Transfer tax
  • Investor income tax
• Assist with identifying credit opportunities and required documentation
• Assist with determination of transferability and direct pay qualifications 
• Entity structuring and restructuring
• Project valuation support
• Project cost certification support
• Project financing support
• Partnership transaction planning
• Evaluate impact to other areas of the business 
• Financial modeling, including IRR analysis
• Financial statement audit, review and attest
• Outsourced accounting services 
• Ad hoc consulting support
• Assist with software selection and implementation
• Supplemental training and education

Technical Guidance

• IRS Notice 2023-18 – Read the guidance on how, and when, taxpayers can apply for the available $10 billion in tax credits for qualified investments in new, expanded or re-equipped manufacturing facilities that produce certain emissions-reducing technologies.
• IRS Notice 2022-61 – Explore what you must do to meet the requirements and claim IRA tax credits from a compliance perspective.
• IRS Notice 2023-17 – Read the guidance on the categorization, allocation and application of the increased/“bonus” credit rates for certain solar and wind facilities placed in service in connection with low-income communities under Section 48(e).