The public accounting and consulting firm FORVIS has launed its TaxCred PRO for Clean Energy, a complimentary, web-based tool that helps users uncover tax provisions relevant to clean energy projects and investments.

In 2022, the Inflation Reduction Act (IRA) introduced new clean energy tax credits and updated existing ones, offering higher maximum credit rates and more favorable requirements for obtaining them. As a result, taxpayers and tax-exempt entities that previously could not benefit from clean energy credits may now be eligible. However, the IRA comes with many intricacies.

Created to help businesses and individuals save valuable time spent reviewing the complicated rules and details of the 2022 IRA, TaxCred PRO for Clean Energy walks users through IRA discovery with a user-friendly questionnaire, collecting details about their clean energy initiatives and investments. Following completion, the tool shares a customized educational report outlining some of the tax credits and deductions that may be relevant given the user’s input. TaxCred PRO can also be a useful tool for businesses and individuals that don’t currently have any planned clean energy projects or investments but are looking to learn more about the credits and deductions that are available under the IRA.

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TaxCred PRO for Clean Energy’s key benefits include:

Reduction of time spent deciphering the complexities and nuances of the IRA
Identification of applicable tax provisions
Delivery of estimated tax benefit amounts
Access to the complimentary tool for all, not just FORVIS clients
Connection with a FORVIS advisor who can help fulfill ongoing compliance requirements

“By launching TaxCred PRO for Clean Energy, our goal is to help companies identify tax incentives for their businesses, thereby enabling them to redirect their focus from navigating the complexities of the IRA to addressing more immediate priorities,” explained Rich Boer, Director at FORVIS. “With this free tool, leaders can access critical information through the Educational Report and request personalized guidance from FORVIS advisors. Through a four-phased approach, our IRA consulting team can help clients significantly reduce the time investment required to strengthen their bottom line.”

TaxCred PRO for Clean Energy is accessible to allat https://cleanenergy.forvis.com/

Taxes