The Department of the Treasury and the Internal Revenue Service have released six requests for public comments on the implementation of climate and clean energy tax incentives mandated by the Inflation Reduction Act.
Treasury said Wednesday the notices focus on energy generation incentives, credit enhancements, incentives for homes and buildings, consumer vehicle credits, manufacturing credits and credit monetization.
The release of the notices initiates the process of soliciting public feedback to inform guidance and rulemaking for key provisions of the legislation and provide clarity and certainty to taxpayers.
“The Treasury Department stands ready to meet the responsibility that comes with implementing this legislation and looks forward to engaging with stakeholders and the public who will benefit from the law’s provisions,” said Treasury Secretary Janet Yellen.
The Inflation Reduction Act, which President Biden signed into law in August, includes a $369 billion investment to address the climate crisis and enhance the country’s energy security.