IRS UPDATES FREQUENTLY ASKED QUESTIONS FOR THE ENERGY EFFICIENT HOME IMPROVEMENT AND RESIDENTIAL CLEAN ENERGY PROPERTY CREDITS

WASHINGTON, April 17 -- The U.S. Department of the Treasury's Internal Revenue Service issued the following news release:

The Internal Revenue Service today updated frequently asked questions in Fact Sheet 2024-15PDF to address the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements.

These FAQs supersede earlier FAQs that were posted in Fact Sheet 2022-40PDF, on Dec. 22, 2022.

The FAQs revisions are as follows:

General questions- Question 4 On April 5, 2024 the Internal Revenue Service issued Announcement 2024-19PDF that addressed the federal income tax treatment of amounts paid for the purchase of energy efficient property and improvements.

Generally, taxpayers who receive rebate...