Inflation Reduction Act 2024 . It increases the rate of the credit to 30% and allows an annual $1,200 limitation of the credit amount in lieu of a lifetime limitation. The inflation reduction act of 2022 (“ira”) is the largest investment in climate change mitigation and adaptation in american history.
On august 16, 2022, president biden signed the inflation reduction act (ira) into law, marking one of the largest investments in the american economy, energy security, and climate that congress has made in. The inflation reduction act (ira) gave supplemental funding for the internal revenue service (irs) through september 30, 2031.
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