Inflation Reduction Act 2024. Department of the treasury and internal revenue service (irs) released proposed guidance on the clean electricity production credit and clean electricity investment credit established by president biden’s inflation reduction act. Guidance provides additional clarification around eligibility determination for domestic content bonus in the inflation reduction act.
Washington — this week, treasury and the irs are starting to send nearly 4 million economic impact payments (eips) by prepaid debit card, instead of by paper check. The inflation reduction act’s prevailing wage provision incentivizes taxpayers to pay prevailing wages to the construction workers building clean energy projects.