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Issue Number: IR-2023-180
Inside This Issue
IRS: Builders of qualified new energy efficient homes may qualify for an expanded tax credit under Section 45L
WASHINGTON, — The Internal Revenue Service issued Notice 2023-65 today which provides guidance on the new energy efficient home credit as amended by the Inflation Reduction Act (IRA).
The provision, as amended by the IRA, allows eligible contractors who construct or substantially reconstruct and rehabilitate qualified new energy efficient homes a tax credit of up to $5,000 per home. The actual amount of the credit depends on eligibility requirements such as the type of home, the home’s energy efficiency, and with respect to multifamily dwelling units, whether prevailing wage requirements are met.
Individuals or entities looking to claim the credit should consult with a tax professional to determine whether and how they can claim the credit and determine whether the credit can be used with other tax incentives or Federal incentives.
Eligibility for eligible contractors
Requirements and credit amounts for 2023 and after
For homes acquired in 2023 through 2032, the credit amount ranges from $500 to $5,000, depending on the certification achieved and standards met, which include:
Energy Saving Requirements
Requirements and credit amounts before 2023
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