The Metropolitan Transportation Authority (“MTA”) seeks to award a contract to one tax consulting firm to support the registration and Internal Revenue Service (“IRS”) tax returns’ filings process for Inflation Reduction Act (IRA) Investment Tax Credits for 2024, and potentially for 2025 through 2027, on an as-needed basis. MTA currently has and will have projects eligible for Investment Tax Credits under the IRA. Certain tax provisions have been made “elective pay eligible” under the IRA, meaning that they are available to tax-exempt entities like the MTA by claiming a direct payment in lieu of a tax credit. Expert tax consulting and preparation services are needed for the MTA to claim tax credits available through the IRS.
