Document Type

Article

Publication Date

2023

Subject: LCSH

Energy consumption, Real property tax, Tax incentives--United States, Inflation (Finance)--United States

Disciplines

Accounting

Abstract

The Inflation Reduction Act of 2022 (the Act), included an array of tax-law changes that may not have gotten the attention they deserve.

There are several reasons why for many these changes may have been under the radar. First, as part of a much larger legislative package, much of the attention has been given to the ongoing political debates rather than individual provisions. In fact, the Act is part of a larger political saga. It's a scaled-down version, and immediate successor, to the Build Back Better Act which passed in the House of Representatives in 2021 but failed to pass in the Senate.

Second, the changes are often extensions and expansions of existing tax incentives, and it may not be clear right away how significant these extensions and expansions are in terms of dollar volume and benefit to taxpayers.

Finally, the incentives are somewhat scattered and there may be situations where individual incentives aren't significant but the effect in the aggregate is significant.

Comments

This article was originally published in, "Real Estate Taxation," and is used with the permission of Thomson Reuters.

Publisher Citation

Goldberg, M. A. & Mohs, J. N. (2023). Expanded tax incentives for energy-efficient construction and improvements. Real Estate Taxation, 50(2), 20-23.

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