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
HR 1 Undermines U.S. National Security and Traditional Republican Energy Policy
May 27, 2025
By George L. Strobel II In an age defined by technological competition, particularly in artificial intelligence (AI), the United States cannot afford to neglect the foundational pillars of national power: […]
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 […]
Novogradac Article: State-Level Renewable Energy Tax Credit Programs Provide Valuable Subsidy to Renewable Energy Development
Jan 20, 2026
by Mark O’Meara Renewable energy developers have access to a variety of incentives, from the Internal Revenue Code (IRC) Section 48E (technology-neutral) clean electricity investment tax credit to the IRC […]