Treasury and IRS Proposed Rule to Clarify Energy Property Qualifying for IRA’s Tax Credits

Treasury and IRS proposed a rule to amend definitions and clarify technical details regarding energy property that qualifies under the Inflation Reduction Act’s Investment Tax Credit. The proposed Treasury and IRS rule addressed the expansion of activities that qualify for section 48 credit and increase in the credit rate for “energy communities,” among other changes. View comments on Treasury and IRS’s proposed rulemaking.