Body The Inflation Reduction Act changed a wide range of tax laws and provided funds to improve our services and technology to make tax filing easier for you. Since the Inflation Reduction Act is a 10-year plan, the changes won't happen immediately. We're working to implement the law as quickly as we can. Latest updates We'll share news on the latest developments here, so check back for updates. Recent news IR-2023-228, Treasury, IRS provide guidance for those who manufacture new clean vehicles IR-2023-202, IRS opens free Energy Credit Online tool for sellers of clean vehicles to register for time-of-sale reporting and dealer advance payments for the Clean Vehicle Credit IR-2023-194, IRS launches new initiatives using Inflation Reduction Act funding to ensure large corporations pay taxes owed; continues to improve service and modernize technology with launch of business tax account IR-2023-186, IRS issues guidance for the transfer of clean vehicle credits and updates frequently asked questions IR-2023-180, IRS: Builders of qualified new energy efficient homes may qualify for an expanded tax credit under Section 45L All news releases on the Inflation Reduction Act Ready-to-use articles Qualifying clean energy vehicle buyers are eligible for a tax credit of up to $7,500 Home energy credits: Good for the environment and your wallet Taxpayers may qualify for the new Clean Vehicle Tax Credit Taxpayers may qualify for the new Previously Owned Clean Vehicle Credit Businesses and tax-exempt organizations may qualify for the new Commercial Clean Vehicle Credit Tax law changes The Inflation Reduction Act covers new and reinstated tax laws that will affect individuals and businesses, including a number of credits and deductions. One provision changes the eligibility rules to claim a tax credit for clean vehicles. This took effect as soon as the law was signed. More details about clean vehicles and other tax provisions will be available in coming months. Elective payment and credit transfer Elective payment and applicable credits and transfer of certain credits Home energy credits Home Energy Tax Credits Energy Efficient Home Improvement Credit Residential Clean Energy Credit Clean vehicle credits Credits for New Electric Vehicles Purchased in 2023 or After Credits for New Electric Vehicles Purchased in 2022 or Before Used Electric Vehicle Credit Commercial Clean Vehicle Credit Clean Vehicle Credit Qualified Manufacturer Requirements Clean Vehicle Credit Dealer Requirements Excise tax credits for alternative fuels, biodiesel, and renewable diesel Tax law changes for businesses Corporate Alternative Minimum Tax (CAMT)PDF Repurchase of corporate stock Superfund chemical excise taxes reinstated Sustainable Aviation Fuel Credit Petroleum Tax – Hazardous substance superfund financing rate reinstated Extended fuel tax credits Guidance Find guidance on key tax provisions in the Inflation Reduction Act of 2022. Notices Notice 2023-65, Section 45L New Energy Efficient Home Credit Notice 2023-64, Additional Interim Guidance Regarding the Application of the Corporate Alternative Minimum Tax under Sections 55, 56A, and 59 of the Internal Revenue Code Notice 2023-59, Guidance on Requirements for Home Energy Audits for Purposes of the Energy Efficient Home Improvement Credit under Section 25C Notice 2023-52, Section 5000D Excise Tax on Sales of Designated Drugs; Reporting and Payment of the Tax Notice 2023-47, publishes lists of information that taxpayers may use to determine whether they meet certain requirements under the Statistical Area Category or the Coal Closure Category as described in sections 3.03 and 3.04 of Notice 2023-291 for purposes of qualifying for energy community bonus credit amounts or rates under §§ 45, 45Y, 48, and 48E of the Internal Revenue Code (Code). These lists are provided in Appendix 1PDF, Appendix 2PDF, and Appendix 3PDF of this notice. Additional Notices Announcements Announcement 2023-18, Transitional Guidance with Respect to Stock Repurchase Excise Tax Announcement 2023-01, Updated Reference Standard 90.1 for § 179D Announcement 2022-23, Renewable Electricity Production Credit Amounts for Calendar Year 2022 Revenue procedures Revenue Procedure 2023-38PDF, Submission of Information to IRS by Qualified Manufacturers of Clean Vehicles, Previously-Owned Clean Vehicles, and Commercial Clean Vehicles Revenue Procedure 2023-27, Process under § 48(e) of the Internal Revenue Code (Code)1 to apply for an allocation of environmental justice solar and wind capacity limitation (Capacity Limitation). Revenue Procedure 2022-42, Submission of Information to IRS by Qualified Manufacturers of Clean Vehicles, Previously-Owned Clean Vehicles, and Commercial Clean Vehicles; Submission of Information to IRS by Sellers of Clean Vehicles and Previously-Owned Clean Vehicles Proposed regulations NPRM Public Inspection: Section 30D Excluded Entities NPRM: Definition of Energy Property and Rules Applicable to the Energy Credit Federal Register: Increased Credit or Deduction Amounts for Satisfying Certain Prevailing Wage and Registered Apprenticeship Requirements Federal Register: Public Inspection: Section 30D New Clean Vehicle Credit Federal Register: Additional Guidance on Low-Income Communities Bonus Credit Program Federal Register: Section 6417 Elective Payment of Applicable Credits Federal Register: Section 6418 Transfer of Certain Credits Federal Register: Elective Payment of Advanced Manufacturing Investment Credit Federal Register: Pre-Filing Registration Requirements for Certain Tax Credit Elections More information Inflation Reduction Act Strategic Operating Plan FS-2023-21, Increased energy investment credit for solar and wind facilities benefitting low-income communities Laws and regulations Inflation Reduction Act of 2022 Printable posters and toolkits Publication 5724, Credit for Previously Owned Clean VehiclesPDF Publication 5724-A, Credit for Clean VehiclesPDF Publication 5724-B, Credit for Commercial Clean VehiclesPDF Publication 5724-I, Clean Vehicle Credits ToolkitPDF Publication 5797, Home Energy Tax CreditsPDF Publication 5817, Elective Pay OverviewPDF Publication 5817-A, Elective Pay for Rural Electric CooperativesPDF Publication 5817-B, Elective Pay for U.S. Territorial GovernmentsPDF Publication 5817-C, Elective Pay for Alaska Native CorporationsPDF Publication 5817-D, Elective Pay for Tax-Exempt OrganizationsPDF Publication 5817-E, Elective Pay for State and Local GovernmentsPDF Publication 5817-F, Elective Pay for Indian Tribal GovernmentsPDF Publication 5817-G, Clean Energy Tax Incentives: Elective Pay-Eligible Tax CreditsPDF Publication 5855, Prevailing Wage & Registered Apprenticeship OverviewPDF Publication 5862, Energy Credits Online: Register for Energy Credits OnlinePDF Publication 5867, Clean Vehicle Dealer and Seller Energy Credits Online Registration User GuidePDF Publication 5863, A Step-By-Step Guide for New and Used Clean Vehicle Dealers and Sellers for the Energy Credits OnlinePDF Publication 5864, New and Previously Owned Clean Vehicle Credit Time of Sale Reporting with Energy Credits OnlinePDF Publication 5865, Clean Vehicle Credit TransferPDF Publication 5866, New Clean Vehicle Tax Credit ChecklistPDF Publication 5866-A, Used Vehicle Tax Credit ChecklistPDF Frequently asked questions Frequently asked questions about the prevailing wage and apprenticeship under the Inflation Reduction Act Frequently asked questions for energy communities Frequently asked questions about elective pay and transferability Frequently asked questions about the New, Previously-Owned and Qualified Commercial Clean Vehicles Credit Frequently asked questions about Energy Efficient Home Improvements and Residential Clean Energy Property Credits
