It also enacted a new tax credit under IRC section 45L—the energy-efficient home credit—available to eligible contractors. Depending on the energy savings achieved, the credit is $1,000 or $2,000 per home. CPAs should become familiar with the credit to claim it for eligible clients.doi:10.1016/S0305-0548(99)00045-3Lesl...
All the credits listed above (except for the section 45L new energy efficient home credit) are "eligible credits" for purposes of section 6418, which means that taxpayers entitled to them (excepting certain non-profit and government entities) may elect to transfer the credit ...
While the Build Back Better Act’s smorgasbord of tax incentives for clean energy, new taxes on large corporations and wealthy individuals, and tax relief for others remains stalled for now in the Senate, 2022 nonetheless dawns with the advent of at least one new tax provision, lapses of a ...