IRS Alert: Beware of a New Clean Energy Tax Credit Scam – Consult Trusted Tax Professionals
The IRS warns against a new scam involving clean energy tax credits under the Inflation Reduction Act (IRA). Unscrupulous tax preparers are misleading taxpayers into improperly claiming these credits, especially on Form 1040. Monarch urges taxpayers to consult with knowledgeable advisors when making tax credit investments.
Key Points:
- Scam targets individuals claiming clean energy credits they can’t benefit from.
- Taxpayers are urged to consult trusted tax professionals.
- Inappropriate claims can lead to future compliance actions, repayment, interest, and penalties.
- Stay informed and protect yourself. More details on the IRS website.
This is another example where scammers are trying to use the complexity of the tax law to entice people into claiming credits they’re not entitled to… we urge people to use a reputable tax professional before claiming complex credits like clean energy.
IRS Commissioner Danny Werfel
Related Posts
Thomas Barnes Joins Monarch Private Capital’s #BestInClass Renewable Energy Team
Apr 24, 2025
Seasoned legal and transaction management professional brings deep experience in renewable energy investments to support Monarch’s growing clean energy portfolio. ATLANTA (GLOBE NEWSWIRE) – Monarch Private Capital (Monarch), a nationally […]
Monarch Private Capital and Invenergy Close Nearly $170 Million Tax Equity Financing for Samson Solar Energy Center II
Sep 16, 2024
The 200-megawatt facility in Texas will be capable of powering more than 40,000 homes ATLANTA (GLOBE NEWSWIRE) – Monarch Private Capital (Monarch), a nationally recognized impact investment firm that develops, […]
Misinformation Rampant About Cause of Spanish GRID Blackout: Cause is Now Known
May 26, 2025
By George L. Strobel II In the wake of last month’s massive blackout that disrupted power across Spain, Portugal, and parts of southern France for more than twelve hours, speculation […]