JCT Summarizes Inflation Reduction Act’s Energy Tax Changes

JCT Summarizes Inflation Reduction Act’s Energy Tax Changes

U.S. Joint Committee on Taxation

The Joint Committee on Taxation in an April 17 report provided an overview of energy tax changes made by the Inflation Reduction Act.

The Joint Committee on Taxation in an April 17 report provided an overview of energy tax changes made by the Inflation Reduction Act.

The Joint Committee on Taxation in an April 17 report provided an overview of energy tax changes made by the Inflation Reduction Act (<a href="/lr/resolve//7dybc">P.L. 117-169</a>). The report covers tax changes that are currently in effect, such as extending the renewable electricity credit, energy credit, and the carbon sequestration credit; provisions that have a delayed effective date, such as the zero emission nuclear power production credit, the clean energy production and investment credits, and the clean fuel production credit; and credit monetization changes, such as tax equity strategies available before the law’s enactment, the election to transfer energy tax credits, and the three-year carryback for some credits.

The Joint Committee on Taxation in an April 17 report provided an overview of energy tax changes made by the Inflation Reduction Act (P.L. 117-169). The report covers tax changes that are currently in effect, such as extending the renewable electricity credit, energy credit, and the carbon sequestration credit; provisions that have a delayed effective date, such as the zero emission nuclear power production credit, the clean energy production and investment credits, and the clean fuel production credit; and credit monetization changes, such as tax equity strategies available before the law’s enactment, the election to transfer energy tax credits, and the three-year carryback for some credits.