Oct. 25, 2022: RETC Working Group Updates and the Inflation Reduction Act

The Inflation Reduction Act has $369 billion in clean energy and renewable energy provisions, including the allowance of certain energy tax credits to be separately transferred, the allowance of qualified tax-exempt entities to elect to get a refund of certain tax credits in lieu of syndicating them and the extension of certain tax credits. The Novogradac Renewable Energy Tax Credit Working Group is working with stakeholder members to submit comments to Treasury and the Internal Revenue Service with respect to the Inflation Reduction Act. Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, discuss key provisions of the Inflation Reduction Act that are drawing the most attention from the renewable energy community and how to provide input on the Novogradac Renewable Energy Tax Credit Working Group's comment letter.