The IRS released additional guidance on June 7, 2024, in the form of Notice 2024-48 (Notice) regarding the energy community bonus credit under Sections 45, 48, 45Y and 48E of the.
On March 22, 2024, the IRS released new guidance1 regarding the "energy community adder." The energy community adder increases the amount/rate one can receive under the investment tax credit.
On June 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-45 and Notice 2023-47. Notice 2023-45 clarifies requirements for a brownfield.
The Inflation Reduction Act of 2022 (the IRA) amended the rules relating to the production tax credit (the PTC) and the investment tax credit (the ITC) to provide increased credit amounts.
On April 4, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a notice of intent to issue proposed regulations on qualifying for the energy community bonus credit.