Body The Inflation Reduction Act changed a wide range of tax laws and provided funds to improve our services and technology to make tax filing easier for you. Since the Inflation Reduction Act is a 10-year plan, the changes won't happen immediately. We're working to implement the law as quickly as we can. Latest updates We'll share news on the latest developments here, so check back for updates. Credit reporting changes Tax year 2023 reporting relief: Forms 8835, Renewable Electricity Production Credit, and 3468, Investment Credit For tax year 2023, if you have more than 200 Forms 3468 or 200 Forms 8835, you can submit a single Form 3468 or Form 8835 with the aggregated credit amounts on the form. Attach a Portable Document Format (PDF) that contains all the required form information for each facility/property. Name the file “CleanEnergyRelief.pdf.” If you have multiple PDFs, add a sequential number to the end of the filename i.e. (“CleanEnergyRelief1.pdf” “CleanEnergyRelief2.pdf”). This relief also applies to shareholders or partners of passthrough entities. Under the Inflation Reduction Act, you’re required to file separate Forms 8835 and 3468 for each facility/property for which you claim a tax credit. IRS is aware of taxpayer concerns of the inability to import data into the forms. News releases IR-2024-281, Treasury, IRS issue final regulations for the Advanced Manufacturing Production Credit IR-2024-280, Treasury and IRS issue guidance for the Energy Efficient Home Improvement Credit IR-2024-277, Treasury, IRS grant filing exception for tax-exempt organizations from filing new Form 4626, Alternative Minimum Tax - Corporations IR-2024-275, IRS and Treasury issue guidance on implementation of advanced manufacturing investment credit IR-2024-272, Treasury, IRS issue guidance for the Sustainable Aviation Fuel Credit All news releases on the Inflation Reduction Act Ready-to-use articles IRS launches new Energy Credits Online tool Qualifying clean energy vehicle buyers are eligible for a tax credit of up to $7,500 Home energy credits: Good for the environment and your wallet Taxpayers may qualify for the new Clean Vehicle Tax Credit Taxpayers may qualify for the new Previously Owned Clean Vehicle Credit Businesses and tax-exempt organizations may qualify for the new Commercial Clean Vehicle Credit Elective payment and credit transfer Elective payment and applicable credits and transfer of certain credits Home energy credits Home energy tax credits Energy Efficient Home Improvement Credit Residential Clean Energy Credit Clean vehicle credits Credits for new electric vehicles purchased in 2023 or after Credits for new electric vehicles purchased in 2022 or before Used Electric Vehicle Credit Commercial Clean Vehicle Credit Clean Vehicle Credit qualified manufacturer requirements Clean Vehicle Credit dealer requirements Tax law changes for businesses Corporate alternative minimum tax (CAMT) Repurchase of corporate stock Superfund chemical excise taxes reinstated Sustainable Aviation Fuel Credit Petroleum tax – Hazardous substance superfund financing rate reinstated Extended fuel tax credits Guidance Find guidance on key tax provisions in the Inflation Reduction Act of 2022. Notices Notice 2024-74 PDF, Sustainable Aviation Fuel Credit; 40BSAF-GREET 2024 Notice 2024-64, Modification of Notice 2024-20 Notice 2024-60, Required Procedures to Claim a Section 45Q Credit for Utilization of Carbon Oxide Notice 2024-49, Clean Fuel Production Credit; Registration Notice 2024-48, Guidance regarding certain requirements under the Statistical Area Category or the Coal Closure Category to qualify for the Energy Community Bonus Credit Notice 2024-47, Extended Relief from Certain Additions to Tax for Corporation’s Underpayment of Estimated Income Tax under Section 6655 All notices Announcements Announcement 2024-25, Low-Income Communities Bonus Credit Program Unallocated Environmental Justice Solar and Wind Capacity Limitation Carryover from the 2023 Program Year to the 2024 Program Year Announcement 2024-24 PDF, Applicable Reference Standard 90.1 required as part of the definition of energy efficient commercial building property (EECBP) Announcement 2024-19, Federal Tax Treatment of Amounts Paid toward the Purchase of Energy Efficient Property and Improvements under Department of Energy Home Energy Rebate Programs Pursuant to Sections 50121 and 50122 of the Inflation Reduction Act of 2022 Announcement 2023-18, Transitional Guidance with Respect to Stock Repurchase Excise Tax Announcement 2023-01, Updated Reference Standard 90.1 for § 179D Announcement 2022-23, Renewable Electricity Production Credit Amounts for Calendar Year 2022 Revenue procedures Revenue Procedure 2024-39 PDF, Rules for making an elective payment election Revenue Procedure 2024-31 PDF, Manufacturer Registration and Written Agreement, Qualified Product Identification Number Assignment, Labeling, and Periodic Reporting Requirements Under Section 25C(h) Revenue Procedure 2024-26, Submission of information by qualified manufacturers of new clean vehicles and dealers and sellers of new clean vehicles and previously-owned clean vehicles Revenue Procedure 2024-19, Guidance for owners of certain solar or wind facilities built in connection with low-income communities. Revenue Procedure 2024-12, Extension for Clean Vehicle Dealers All revenue procedures Proposed regulations NPRM: Energy Efficient Home Improvement Credit NPRM: Alternative Fuel Vehicle Refueling Property Credit NPRM: Clean Electricity Low-Income Communities Bonus Credit Amount Program NPRM: Section 45Y Clean Electricity Production Credit and Section 48E Clean Electricity Investment Credit NPRM: Transfer of Clean Vehicle Credits Under Section 25E and Section 30D NPRM: Clean Electricity Production Credit and Clean Electricity Investment Credit All proposed regulations Final regulations Advanced Manufacturing Production Credit Advanced Manufacturing Investment Credit Additional Guidance on Low-Income Communities Bonus Credit Program Excise Tax on Designated Drugs; Procedural Requirements Excise Tax on Repurchase of Corporate Stock; Procedure and Administration Increased Amounts of Credit or Deduction for Satisfying Certain Prevailing Wage and Registered Apprenticeship Requirements All final regulations More information Inflation Reduction Act Strategic Operating Plan Laws and regulations Inflation Reduction Act of 2022 Printable posters and toolkits Use these printable posters, guides and toolkits to understand or promote the benefits of the Inflation Reduction Act credits Frequently asked questions Frequently asked questions regarding eligible census tracts for purposes of the Alternative Fuel Vehicle Refueling Property Credit under § 30C Frequently asked questions for the dealer and seller Energy Credits Online registration Frequently asked questions about the prevailing wage and apprenticeship under the Inflation Reduction Act Frequently asked questions about applying for registration for the Clean Fuel Production Credit under § 45Z Frequently asked questions about the prevailing wage and apprenticeship under the Inflation Reduction Act Frequently asked questions for energy communities Frequently asked questions about elective pay and transferability Frequently asked questions about the New, Previously-Owned and Qualified Commercial Clean Vehicles Credit Frequently asked questions about Energy Efficient Home Improvements and Residential Clean Energy Property Credits
