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IndustryVoice: Seven Key Takeaways From Guidance for Claiming Clean Hydrogen Tax Credits Under the IRA
Late in 2023, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) issued much-anticipated draft guidance for claiming tax credits and other incentives for development of so-called “clean” hydrogen production facilities. Authorized under the Inflation Reduction Act (IRA) of 2022, the rules are expected to provide clarity that many believe is necessary for development of a functioning hydrogen economy.