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
Weil Article: Transfers of Advanced Manufacturing Production Credits: Perspectives on a Busy Fourth Quarter
Feb 3, 2025
By Bryan Didier, Steven Lorch, Irina Tsveklova and Jonathan Macke Last year—particularly the fourth quarter—saw a significant uptick in transfers of advanced manufacturing production credits (AMPCs) described under Section 45X. […]
Monarch Leadership Featured on SOapbox Podcast: Navigating Opportunity and Uncertainty in Renewable Energy Finance
Sep 10, 2025
Bryan Didier, Partner and Managing Director of Renewable Energy at Monarch Private Capital, was recently featured on Season 5, Episode 5 of the SOapbox podcast, Voices of the Energy Transition: […]
Crayhill and Monarch Launch Monarch JVT Funding to Provide $300 Million for Tax Credit Transfer Partnerships
Jan 9, 2026
ATLANTA (GLOBE NEWSWIRE) Crayhill Capital Management (“Crayhill”) and Monarch Private Capital (“Monarch”) are pleased to announce a strategic joint venture to facilitate hybrid preferred tax equity investments for renewable energy […]