Extending the favorable tax provisions of the Tax Cuts and Jobs Act (TCJA) of 2017 was a centerpiece of President Trump's campaign platform. However, following through on this promise will require weighing the continuation of the tax cuts, many of which are set to expire at the end of 2025.

Andersen Consulting integrates digital transformation and AI-driven solutions with Andersen Global's world-class tax, legal, valuation, and global mobility expertise

Andersen Managing Directors Mary Duffy, Bryan Collins, Jerry Fish, and Clarissa Cole are featured speakers at theTEI 2025 Midyear Conferencein Washington, D.C. March 17-19, 2025.

A carried interest (sometimes referred to as a profits interest) is typically granted to the sponsor/manager of private equity, hedge fund, venture, or similar funds and entitles the holder to a percentage of the fund’s profits.

Under the Inflation Reduction Act of 2022, taxpayers can receive tax-credit enhancements of an additional 20% or 10% for certain energy projects that invest in qualified solar and wind facilities located in low-income neighborhoods.

The Inflation Reduction Act of 2022 (the Act) established an increased credit amount for certain energy incentives if a taxpayer satisfies the prevailing wage and apprenticeship requirements (PWA Requirements).

Taxpayers who produce or invest in clean electricity may be eligible to claim the Clean Electricity Production Credit (Sec. 45Y) with respect to a facility or the Clean Electricity Investment Credit (Sec. 48E) with respect to a facility or energy storage technology, as applicable, that is placed in service after 2024.

The Inflation Reduction Act of 2022 created a domestic content credit enhancer for clean energy (Secs. 45 and 48) and clean electricity (Secs. 45Y and 48E) production and investment credits for certain qualified facilities or energy projects.