Inflation Reduction Act of 2022

The Inflation Reduction Act of 2022 invests more than $400 billion in US spending on a range of climate change, healthcare, electric vehicle, and prescription drug pricing initiatives through a series of tax breaks and capital deployment. Among its most significant features, the act includes $369 billion dedicated to climate action through restructuring the eligibility and applicability of many clean energy tax credits. With a novel structure for the monetization of existing and new green technology tax credits, the Inflation Reduction Act and earlier federal legislation is poised to make substantial changes in climate change mitigation actions.


9/26/2023 -Biden Administration’s Focus on Unions Extends to OSHA and Inflation Reduction Act Projects
Beyond the recent, precedent-rewriting National Labor Relations Board decisions that have been making headlines, the Biden administration has been furthering its pro-labor agenda through other rulemaking efforts, from the US Department of Labor’s proposed rules updating Occupation Safety and Health Administration onsite inspection guidelines, to the US Department of the Treasury and Internal Revenue Service’s proposed regulations for obtaining clean industry tax credits subject to new requirements that in part encourage collective bargaining agreements.

8/09/2023 - 4 Lingering Issues in Green Energy Credit Monetization Rules, Law360
Partner Casey August spoke with Law360 for an article about the US Department of the Treasury’s proposed clean energy tax credit rules.

6/30/2023 - IRS Energy Direct Pay Rules Take Some Projects ‘Off the Table’, Bloomberg Law
Partner Casey August is featured in a Bloomberg Law article on recently proposed rules by the US Department of the Treasury and Internal Revenue Service on direct pay that restricts partnerships from making the election for direct pay on behalf of the partners.

6/23/2023 - Inflation Reduction Act Guidance Proposed on Direct Payment for Energy Credits
The Inflation Reduction Act of 2022 opened up many energy credit opportunities for tax-exempt organizations. The Internal Revenue Service and US Treasury Department released proposed regulations on the direct payment regime, which guidance should help organizations evaluate whether to engage in clean energy projects.

6/23/2023 - IRS and Treasury Release Credit Transfer Guidance Aiming to Jump Start Market for IRA's Clean Tech Industry Tax Credit Sales
The Internal Revenue Service and US Department of the Treasury released temporary regulations and proposed regulations relating to the transfer of certain clean technology industry federal income tax credits pursuant to Section 6418 of the Internal Revenue Code of 1986, as amended, which was enacted under the Inflation Reduction Act of 2022. 


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