On May 31, 2023, the Department of Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) released Notice 2023-44 (“Notice”) to provide additional guidance on Section 48C, a.
IRS will send allocation letters with the allocated amount of Section 48C Credits to accepted applicants. Taxpayers must notify DOE that certification requirements have been met via submission through the eXCHANGE portal within two years of receiving an Allocation Letter.
The Inflation Reduction Act of 2022 (the “IRA”) added and modified certain energy tax credit provisions of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). The.
On February 13, the Treasury Department released guidance for a major clean energy tax credit program. As noted in a prior alert, the Section 48C(e) Advanced Energy Project Credit,.