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
NC State Renewable Energy Tax Credits Available Through Monarch Private Capital
Apr 5, 2024
Monarch Private Capital (Monarch), a nationally recognized impact investment firm that develops, finances and manages a diversified portfolio of projects that generate both federal and state tax credits, announces the […]
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, […]
Kendall Sustainable Infrastructure with Monarch Private Capital, Advanced Solar Products, Independence Solar and Arcadia Begin Operation of New Jersey Community Solar Sites Serving Over 650 Households
Nov 27, 2023
Cambridge, MA – Kendall Sustainable Infrastructure (“KSI”) has begun operation of four new community solar projects totaling 4.4 MW and serving 686 households in and near Pennsauken and Moorestown, NJ. Partners […]