June 01, 2023 - 12:00 PM - 1:00 PM
Online
Significant changes in the Inflation Reduction Act of 2022 (“IRA”) allow not-for-profit hospitals to receive an IRS refund or monetize accelerated deductions with engineers and architects for certain clean energy improvements, even if no tax liability is due. While in previous taxable years, not-for-profits were limited to capturing these cash benefits only if they had unrelated business income tax (“UBIT”), under the IRA, all not-for-profits are incentivized to invest in clean energy infrastructure through the direct payment program regardless of tax liability.
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