Inflation Reduction Act Tax Credits: What You Should Know

The Inflation Reduction Act, a massive climate, energy, healthcare, and tax law, increases IRS funding, changes tax policy, and offers new and expanded tax credits.

Picture of the U.S. capitol
(Image credit: Getty Images)

You may have heard about the Inflation Reduction Act (IRA), a sweeping piece of legislation signed in the last two years, designed to address some of the significant issues that the U.S. is facing. Some of those issues include the high cost of prescription drugs, healthcare availability, climate change, and the need to raise tax revenue. But did you know that the various clean energy tax credits and other tax incentives in the IRA might benefit you?

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Kelley R. Taylor
Senior Tax Editor,

As the senior tax editor at, Kelley R. Taylor simplifies federal and state tax information, news, and developments to help empower readers. Kelley has over two decades of experience advising on and covering education, law, finance, and tax as a corporate attorney and business journalist.