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September 08, 2023

Treasury and IRS Propose Guidance on IRA Prevailing Wage and Apprenticeship Rules

For organizations and institutions interested in claiming bonus amounts of federal tax benefits for clean energy and green building projects under the Inflation Reduction Act, the Treasury Department and the IRS have proposed regulations detailing the requirements, correction processes, and penalties related to the wage and apprenticeship provisions in the act.

August 07, 2023

Advocacy From Your Desk: The IRS Wants Your Input

The IRS is inviting colleges and universities to participate in upcoming virtual focus groups addressing the pre-filing registration process for green energy tax credits. We urge you to take this pop-up opportunity to see what the IRS is planning to do and to voice your feedback.

April 03, 2023

IRS Issues Proposed Rules on Battery Content for Clean Vehicle Tax Credits

To qualify for the new credit enacted in the Inflation Reduction Act, clean vehicles purchased by taxpayers need to meet certain battery component requirements. New proposed guidance from the IRS provides details for determining whether a significant percentage of critical components used in a car’s battery were processed domestically, and therefore qualify for the credit.

January 06, 2023

IRS Publishes Initial Guidance on 2023 Electric Vehicle Credits

Certain new electric vehicles purchased on or after January 1, 2023, will be eligible for up to a $7,500 clean vehicle tax credit, according to new IRS guidance. Private nonprofit colleges and universities and some public institutions can claim the credits.

October 12, 2022

IRS Seeks Comments on New Energy Credits

The Department of the Treasury and the IRS have issued six notices asking for public comments on various aspects of extensions and enhancements of energy tax benefits enacted in the Inflation Reduction Act. The credits offer new opportunities for colleges and universities to invest in renewable energy.