Public comment sought on Inflation Reduction Act’s clean energy tax incentives

10/7/2022 Lee Peterson, Anton Cohen

Since the passage of the Inflation Reduction Act (IRA) and its many climate and clean energy provisions, those interested in clean energy have been anxiously awaiting more detailed technical guidance required for the precise use of the Act’s expanded tax incentives.

On Oct. 5, the Biden administration officially took the first public step in assuaging this collective anxiety by publicly releasing a series of IRS Notices asking for public input on such guidance.

The Treasury Department and IRS have issued six individual Notices, each seeking comment on a number of the incentives.

Responses can be submitted electronically or by mail, with filing instructions contained within each of the Notices.

According to the accompanying Fact Sheet, comments are encouraged as soon as possible, “ideally within 30 days of issuance (by Nov. 4),” but later responses will still be accepted.

Note that these Notices do not count as the guidance that would initiate the 60-day period in the prevailing wage and apprenticeship requirements applicable to certain Act provisions. “The Treasury Department and the IRS will explicitly identify when they have published guidance with respect to the prevailing wage and apprenticeship requirements that is relevant for determining whether such requirements have been satisfied,” the Notices state.

For more information, see the Treasury’s release.

Lee J. Peterson, JD, Senior Manager

404.847.7744

Anton Cohen, CPA, Partner, Renewable Energy Industry and Project Finance and Consulting Practice Leader

301.280.1822

Related services

Renewable Energy
Tax

_{Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice specific to, among other things, your individual facts, circumstances and jurisdiction. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.}