Credits and Deductions Under the Inflation Reduction Act of 2022

Last Update: 30/05/2023

The IRS is working on implementing the Inflation Reduction Act of 2022. This major legislation will affect individuals, businesses, tax exempt and government entities.

We’ll post guidance for taxpayers on all credits and deductions from the Inflation Reduction Act as it becomes available. Please check back regularly for updates.

On This Page

  • Clean Vehicle Credits
  • Other Energy-Related Credits and Deductions
  • Credits for Individuals
  • Credits and Deductions for Businesses

Clean Vehicle Credits

  • Credits for New Clean Vehicles Purchased in 2023 and After (updated March 31, 2023)
  • Credits for New Electric Vehicles Purchased in 2022 and Before
  • Credits for Used Clean Vehicles
  • Commercial Clean Vehicle Credit
  • Incentives for Biodiesel, Renewable Diesel and Alternative Fuels

Related guidance for these credits:

  • Federal Register: Public Inspection: Section 30D New Clean Vehicle Credit (added March 31, 2023)
  • Clean Vehicle Credit Seller or Dealer Requirements
  • Clean Vehicle Credit Qualified Manufacturer Requirements

Other Energy-Related Credits and Deductions

  • Advanced Energy Project CreditPDF
  • Clean Electricity Investment Credit
  • Clean Electricity Production Credit
  • Clean Fuel Production Credit
  • Clean Hydrogen
  • Credit for Carbon Oxide Sequestration
  • Credit for Electricity Produced from Certain Renewable Resources (added  April 4, 2023)
  • Energy Credit for Solar and Wind FacilitiesPDF
  • Energy Efficient Commercial Building Deduction
  • Energy Efficient Home Improvement Credit (added March 28, 2023)
  • Residential Clean Energy Credit (added March 28, 2023)
  • Second Generation Biofuel Incentives
  • Sustainable Aviation Fuel Credit
  • Zero-Emission Nuclear Power Production Credit

For an interactive guide to energy credits available under the Inflation Reduction Act, visit cleanenergy.gov.

Bonus Incentive Credits

Qualifying energy projects that also meet other specific criteria may be eligible for additional tax credit amounts (also known as bonuses). Check back for details on these bonuses.

  • Low-Income Communities (added April 4, 2023)
  • Energy CommunitiesPDF (added April 4, 2023)
  • Prevailing Wage & Apprenticeship (added April 4, 2023)
  • Domestic Content

Elective Payment and Credit Transfer

The Inflation Reduction Act of 2022 allows new ways for ensuring eligible taxpayers receive their credits. Check back for details and to learn how we plan to implement them.

  • Elective Payment of Applicable Credits
  • Transfer of Certain Credits

Credits for Individuals

From purchasing clean vehicles to making your home more energy efficient, the Inflation Reduction Act of 2022 may have a significant effect on your taxes.

  • Credits for New Electric Vehicles Purchased in 2023 and After (updated March 31, 2023)
  • Credits for New Clean Vehicles Purchased in 2022 and Before
  • Used Clean Vehicle Credit
  • Home Energy Tax Credits
  • Energy Efficient Home Improvement Credit (added March 28, 2023)
  • Residential Clean Energy Credit (added March 28, 2023)

Credits and Deductions for Businesses

  • Advanced Energy Project CreditPDF
  • Advanced Manufacturing Investment Credit
  • Advanced Manufacturing Production Credit
  • Clean Electricity Investment Credit
  • Clean Electricity Production Credit
  • Clean Fuel Production Credit
  • Clean Hydrogen
  • Credit for Carbon Oxide Sequestration
  • Credit for Electricity Produced from Certain Renewable Resources (added April 4, 2023)
  • Credits for New Clean Vehicles Purchased in 2023 and After (updated March 31, 2023)
  • Credits for New Electric Vehicles Purchased in 2022 and Before
  • Commercial Clean Vehicle Credit
  • Energy Credit for Solar and Wind FacilitiesPDF
  • Energy Efficient Commercial Building Deduction
  • Energy Efficient Home Credit
  • Incentives for Biodiesel, Renewable Diesel and Alternative Fuels
  • Research Credit against Payroll Tax for Small Businesses
  • Second Generation Biofuel Incentives
  • Sustainable Aviation Fuel Credit (added December 19, 2022)
  • Zero-Emission Nuclear Power Production Credit

Frequently Asked Questions

You can apply for the visa approval letter at any time convenient for you, but it should be at least 10 working days before your departure to avoid emergency fees.

Your visa approval letter becomes valid from your granted arrival date, not from your date of application or the date of issuing your letter, so no worry if you apply for it 1 or 2 months in advance.

Sure, business visa is available through our service. Please see the Business Visa page for more information.

Please find the below for required information to process your visa on arrival and what are required at Vietnam airport.

1- To obtain an approval letter for the visa on arrival, you are required to submit the following information:

Your Full name – The same as in passport
Date of birth
Nationality
Passport number
Travel dates
Purpose of visit
Type of visa

2 – When you arrive at Vietnam airport, please present:

Approval letter (hard copy)
Two (02) passport size photos
Entry/exit form
Original passport
Stamping fee (by cash)

Yes. You can apply for Vietnam visa on arrival for your whole family in one application. In case your group have more than 10 people, just let me know at [email protected]. We will get back to you to make your application process simple.