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Inflation Reduction Act

Key Contacts

Elizabeth L. McGinley
Don J. Lonczak
Steven J. Lorch

Welcome to Bracewell’s Inflation Reduction Act Resource Center

The Inflation Reduction Act of 2022 (IRA) significantly expands the scope and magnitude of federal income tax credits available for energy transition projects — including credits related to carbon sequestration, solar and onshore and offshore wind power generation, energy storage, hydrogen, renewable natural gas, and renewable fuels — and provides new opportunities for monetizing these credits.

Bracewell’s IRA Resource Center includes a collection of the current guidance implementing and interpreting the IRA and thought leadership on the IRA published by Bracewell lawyers, providing energy transition project developers and investors with the latest information and insights.

Featured Insights

Related Resources

Statutory Text

Inflation Reduction Act
Full text of the Inflation Reduction Act of 2022 (the IRA) (August 16, 2022).

IRS Guidance

IRS Notice 2023-18
Guidance establishing qualifying advanced energy project credit allocation program under Section 48C(e) of the Code (February 13, 2023).
IRS Notice 2023-17
Guidance establishing the program to allocate environmental justice solar and wind capacity limitation under Section 48(e) of the Code (February 13, 2023).
IRS Notice 2023-16
Guidance and updated FAQs regarding the vehicle classification standard in connection with the clean vehicle credit under Section 30D of the Code (February 3, 2023).
IRS Notice 2023-9
Guidance regarding the safe harbor for the incremental cost of certain qualified commercial clean vehicles placed in service in 2023 for purposes of the qualified commercial clean vehicle credit under Section 45W of the Code (December 29, 2022).
IRS Notice 2023-7
Guidance regarding the application of the corporate alternative minimum tax under Sections 55, 56A, and 59 of the Code (December 27, 2022).
IRS Notice 2023-6
Guidance regarding the sustainable aviation fuel credit under Sections 40B and 6426(k) of the Code (December 19, 2022).
IRS Notice 2023-2
Guidance regarding the application of the excise tax on repurchases of corporate stock under Section 4501 of the Code (December 27, 2022).
IRS Notice 2023-1
Guidance regarding definitions of certain terms relevant to the clean vehicle credit under Section 30D of the Code (January 3, 2023).
IRS Notice 2022-61
Guidance regarding the prevailing wage and apprenticeship requirements under the IRA (November 30, 2022).

IRS Announcements

IRS Announcement 2023-1
Notification to taxpayers of the applicable reference standard to determine the amount of the energy efficient commercial building property deduction under Section 179D of the Code (December 23, 2022).
IRS Announcement 2022-23
Notification to taxpayers of new credit amounts for calendar year 2022 for the renewable electricity production credit under Section 45 of the Code for any qualified facility placed in service after 2021 (November 28, 2022).

IRS Revenue Procedures

Rev. Proc. 2022-42
Procedures for qualified manufacturers to enter into a written agreement with the Secretary of the Treasury to make periodic written reports providing vehicle identification numbers and such other information related to the clean vehicle credit under Section 30D of the Code (December 12, 2022).

Frequently Asked Questions

Prevailing Wage and the Inflation Reduction Act
Department of Labor FAQs regarding prevailing wage and apprenticeship requirements.
Inflation Reduction Act Apprenticeship Resources
Apprenticeship USA FAQs regarding prevailing wage and apprenticeship requirements.
New, Previously-owned and Qualified Commercial Clean Vehicles
IRS FAQs regarding new, previously-owned and qualified commercial clean vehicle credits.
Energy Efficient Home Improvements and Residential Clean Energy Property Credits
IRS FAQs regarding energy efficient home improvements and residential clean energy property credits.

IRS Requests for Comment

IRS Notice 2022-58
Request for comments regarding the clean hydrogen credit under Section 45V of the Code and the clean fuel production credit under Section 45Z of the Code (November 3, 2022).
IRS Notice 2022-57
Request for comments regarding the carbon oxide sequestration credit under Section 45Q of the Code (November 3, 2022).
IRS Notice 2022-56
Request for comments regarding the qualified commercial clean vehicle credit under Section 45W of the Code and the alternative fuel vehicle refueling property credit under Section 30C of the Code (November 3, 2022).
IRS Notice 2022-51
Request for comments regarding prevailing wage, apprenticeship, domestic content, and energy communities requirements under the IRA (October 5, 2023).
IRS Notice 2022-50
Request for comments regarding direct payment of credits under Section 6417 of the Code and transferability of credits under Section 6418 of the Code (October 5, 2023).
IRS Notice 2022-49
Request for comments regarding renewable energy credits under Sections 45, 45U, 45Y, 48, and 48E of the Code (October 5, 2022).
IRS Notice 2022-48
Request for comments regarding energy efficiency incentives under Sections 25C, 25D, 45L, and 179D of the Code (October 5, 2022).
IRS Notice 2022-47
Request for comments regarding advanced manufacturing credits under Sections 48C and 45X of the Code (October 5, 2022).
IRS Notice 2022-46
Request for comments regarding clean vehicle credits under Sections 30D and 24E of the Internal Revenue Code of 1986, as amended (the Code) (October 5, 2022).

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Key Contacts