Ahead of Nov. 15 Deadline, Partnership Fills Gap in Complex IRS Process for Clean Energy Projects Completed in 2023
Lawyers for Good Government (L4GG) and Giraffe Financial have joined forces to streamline electronic filing (E-filing) for clean energy tax credits under the Inflation Reduction Act (IRA). This initiative will make the process more accessible and affordable for tax-exempt entities, such as local governments, nonprofits, state agencies, and Tribal governments. Many of these entities are facing a November 15, 2024, IRS filing deadline to claim incentives for their electric vehicle purchases, electric vehicle charging, wind, solar, energy storage, and geothermal projects completed in 2023.
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The L4GG and Giraffe partnership is the first in its field to simplify this process and make it more affordable. E-filing for elective pay has become a costly, intractable problem that is difficult and time-consuming for communities that are leading on the clean energy transition with the help of the IRA’s funding, but lack the means and in-house experts to navigate a complex tax system.
To support these organizations, L4GG has developed the Clean Energy Tax Navigator, a free resource that walks through the process of determining eligibility for IRA tax credits, offering technical assistance, direct pro bono services in certain need-based cases, and free annotated tax forms to help entities complete the tax forms themselves.
Now, to complement L4GG’s support and enable entities to E-file with the IRS and receive tax refunds in a timely manner, Giraffe Financial is providing a one-time special E-filing service. Between now and November 15, 2024, Giraffe Financial is offering this E-file service for just $350 per project. This significantly discounted fee is only available to qualified entities that have gone through the Tax Navigator or otherwise received services from L4GG, received an IRS pre-filing registration number for their project(s), and worked with the annotated tax forms (made by L4GG and their partners) to prepare forms for their 2023 filings.
For all other organizations looking to file for projects completed in 2023 or beyond, Giraffe continues to offer its standard ‘tax credits-as-a-service’ performance-based pricing where Giraffe recoups a percentage of the value of credits it helps entities monetize.
The current special Giraffe/L4GG partnership price of $350 per project is based on the 350 parts per million atmospheric concentration of CO2 that we need to reach to address climate change. Both Giraffe and L4GG are committed to empowering organizations to become part of the climate solution by deploying clean technologies in a cost-effective manner by leveraging federal IRA funding. This partnership and discounted E-file offering intends to help catalyze the elective pay marketplace and demonstrate that organizations of all types can take advantage of IRA incentives.
Giraffe’s reduced fees will help advance the Biden/Harris administration’s Justice40 Initiative, which made it a goal that 40 percent of the overall benefits of certain Federal climate, clean energy, affordable and sustainable housing, and other investments flow to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution. It will also advance L4GG’s mission of ensuring this historic federal funding is equitably distributed.
“Far too many state & local governments, frontline communities, tribal governments, school districts, and nonprofits have completed clean energy projects but may miss out on valuable tax credits because they don’t have the time, resources, or knowledge to wade through complex IRS requirements and paperwork,” said Jillian Blanchard, L4GG’s Director of Climate Change and Environmental Justice Program. “One of those IRS requirements is e-filing, but many CPAs and e-filing services have yet to catch up with the new elective pay forms, cannot actually complete a comprehensive e-filing package, or are cost-prohibitive for under-resourced communities. L4GG saw this need, and is proud to partner with Giraffe to fill the gap, protecting those ushering in the clean energy transition by offering an affordable, comprehensive option to help communities e-file for elective pay and to make sure that everyone, especially communities in need, can benefit from the powerful new IRA tax incentives.”
"This partnership underscores the shared commitment of Giraffe Financial and L4GG to foster a cleaner, more just future by empowering all communities to access the benefits of the clean energy transition,” said Jason Prince, CEO of Giraffe Financial.
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Lawyers for Good Government (L4GG) is a community of 125,000 legal advocates in all 50 states working to ensure equal rights, equal opportunities and equal justice under the law. We coordinate large scale pro bono programs and issue advocacy efforts, seeking not only to establish and enforce equality under the law, but to also create the social and economic conditions that lead to true equity. L4GG’s CCEJ Program works to expedite a just transition to a green economy.
Giraffe Financial provides tax credits-as-a-service to enable organizations of all types to seamlessly take advantage of Inflation Reduction Act (IRA) incentives. Giraffe’s turnkey offering includes: determining eligibility for credits, calculating credit amounts, documenting regulatory compliance, managing prevailing wage and apprenticeship (PWA) requirements, completing IRS pre-filing registrations, preparing tax forms, E-filing for Elective Pay, and structured transactions for Transfers. Giraffe is exclusively focused on navigating the complexity of the IRA on behalf of our clients - IRA is right there in our name.