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IRS Issues Notices On Tax-and-Climate Law Energy Incentives (2)

Oct. 5, 2022, 5:01 PMUpdated: Oct. 5, 2022, 8:52 PM

The IRS and Treasury Department issued notices for comment Wednesday on six energy provisions in President Joe Biden’s tax-and-climate law.

“There will be multiple opportunities for stakeholder engagement in the weeks and months ahead,” said White House adviser John Podesta, who is in charge of implementing the law’s energy provisions, in a press briefing. “We’re moving fast on implementation so taxpayers can have certainty so we can fully unlock the potential of this historic law to combat climate change, and strengthen US energy security.”

The Inflation Reduction Act allocated $270 billion towards tax incentives, almost 75% of the investment ...