Treasury, IRS seek more input on climate and clean energy incentives under “Inflation Reduction Act”
Readers focused on climate change and clean energy technologies should take note of three notices issued last week by the U.S. Department of the Treasury and the Internal Revenue Service (IRS) requesting public input on key incentives in those areas under the “Inflation Reduction Act.”
Last week’s announcement follows an initial set of notices requesting comment that the Department issued in October. The latest notices seek comment from the public on tax incentives related to: (1) commercial clean vehicles and alternative fuel vehicle refueling property; (2) carbon capture; and (3) clean hydrogen and clean fuel production. Those interested in providing feedback should follow the instructions in the notices and reply as soon as possible, ideally by December 3.
today issued three additional notices requesting public input on key climate and clean energy tax incentives in the Inflation Reduction Act. The trio of notices follows an initial set of notices requesting comment the Department issued in October.
These Notices are part of Treasury’s ongoing efforts to engage a broad spectrum of taxpayers and stakeholders to inform its work implementing the Inflation Reduction Act. Nearly three-quarters of the bill’s $369 billion climate change investment – $270 billion – is delivered through tax incentives, putting the Department at the forefront of this landmark legislation.