IRA tax credit compliance solution
The IRA is complicated, and guidance and compliance requirements continue to be released. Baker Tilly’s energy, tax and industry specialists can help your organization understand the complexities and how to effectively position your project to receive and maximize eligible credits. We'll help you to:
Provide technical expertise to help organizations understand the credits
Estimate the size of the tax credit or set of tax credits
Identify and document steps to take to secure the credits
Determine project eligibility and develop enterprise strategies to leverage IRA opportunities
How can your clean energy project leverage bonus credits?
What documentation is needed to claim the IRA tax credits and avoid penalties?
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Determine project eligibility for IRA tax credits
Maximize and substantiate the tax credits
Claim the tax credits
Related services
Tax advisory and structuring: Efficient tax strategy considering operating agreements, partnership allocations and exit planning
Capital formation: Enhance overall return by optimizing sources of funds across debt, equity and tax credits, including funding opportunities through the Greenhouse Gas Reduction Fund (GGRF)
Tax credit monetization: Optimize tax credit monetization strategy to earn, sell or utilize tax credits, including transaction modeling (as needed)
Begun construction requirements: Bring awareness and strategic advisory to help projects meet requirements to secure and/or enhance specific types of IRA tax credits
What clean energy capital investments are eligible to apply for IRA tax credits?
Maximize tax credit opportunity with bonus credit eligibility confirmation and compliance specific to:
prevailing wage and apprenticeship
domestic content requirements
energy communities
low-income communities
project cost certification
Help ensure compliance with all IRA energy tax credit requirements
Minimize any potential fees or penalties related to non-compliance activities
Establish total cost basis of the energy project and perform a post-construction cost segregation study to determine eligible cost basis of the energy property
Document with vendors how and when project type was placed in service
Generate workpaper files to support investment tax credit claims