The Inflation Reduction Act (IRA) contains many clean energy tax provisions, each with nuances that impact what you may qualify for and how much benefit you or your business can potentially receive. Avoid spending significant time researching every aspect of the IRA, and get started with TaxCred PRO for Clean Energy from Forvis Mazars.
TaxCred PRO can help you discover IRA tax credits related to clean energy initiatives such as:
TaxCred PRO walks you through IRA discovery with a questionnaire, collecting details about your current or future clean energy initiatives and investments. The questionnaire also provides an option to connect with a Forvis Mazars advisor.
Once the questionnaire is complete, TaxCred PRO delivers a customized educational report outlining some of the specific tax credits and deductions that may be relevant, with a range of potential benefits given your responses in the questionnaire.
Start your complimentary questionnaire today:
Empower your clean energy initiatives with a four-phased approach driven by our IRA consulting team.
Discovery: Evaluate your eligibility for potential federal IRA credits and deductions. Based on the project’s specifications, Forvis Mazars can provide a listing of potentially eligible credits, the estimated credit amount, and the available bonus credit opportunities.
Modeling: Model the economic benefits and costs of pursuing potential clean energy credits. Whether determining which credit option to pursue, deciphering what entity structure is most beneficial, or deciding to transfer credits or elect direct pay, the modeling process can help you understand the internal rate of return on your projects, given various dynamic decision points.
Implementation: The prevailing wage and apprenticeship (PWA) requirements could result in an available credit at five times the otherwise eligible base credit amount. The implementation phase can help you plan for and track compliance, while also defending your PWA bonus credit by accumulating and analyzing the requisite labor information for your project.
Claim: Forvis Mazars can help with the process of claiming the IRA credits, and transferring or electing direct pay for your credits, if applicable. We can help with analyzing contracts, pre-registering with the IRS, or including the requisite disclosures on your tax return. More generally, Forvis Mazars can offer guidance on how to report the credits on the needed forms and schedules on your tax returns so you can utilize the IRA credits available to you.
This informative webinar will explore key tax provisions for businesses and individuals included in the Inflation Reduction Act and the CHIPS and Science Act.
