Not-For-Profit Tax Credit Opportunities Included in the Inflation Reduction Act

The Inflation Reduction Act (“Act”) was signed into law by President Biden on August 16, 2022, and became effective on January 1, 2023. 

One of the main goals of the Act is to reduce America’s greenhouse gas emissions by accelerating the transition to cleaner energy sources. To incentivize investment in these energy sources, the Act provides for over 70 investment, production, and excise credits at an estimated cost of over $780 billion to the United States Treasury.

Of significant note for tax-exempt organizations is the direct payment program that permits these organizations to monetize the Act’s lucrative tax credits on eligible investments and purchases. The Act’s credit positions are very technical and highly complex, but for those organizations that are committed to reducing their carbon footprint, the financial incentives could prove very valuable.

Schneider Downs invites you to join us at our virtual webinar, How Not-For-Profits Can Access Inflation Reduction Act Funding on Thursday, March 21, 2024, at 10:00 a.m. EDT. The webinar will walk you through these valuable incentives and provide an overview of the direct payment process. Please join us and register.  

About Schneider Downs Tax Services 

Schneider Downs’ tax advisors have experience and expertise in a wide range of industries, including Automotive, Construction, Real Estate, Manufacturing, Energy & Resources, Higher Education, Not-for-profits, Transportation and others. Our industry knowledge and focus ensure the delivery of technical tax strategies that can be implemented as practical business initiatives.  

To learn more, visit our dedicated Tax Services page. 

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Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

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