Internal Revenue Service IRS and Department of the Treasury issue guidance on requirements to qualify for the domestic content bonus tax credit under PTC
Treasury Department and Internal Revenue Service IRS issue final regulations on transfer of certain credits for transferability provisions under Inflation Reduction
On May 16, 2024, the Internal Revenue Service (IRS) published Notice 2024-41 (Notice), which modifies Notice 2023-38 (Prior Notice) by providing a new elective safe harbor (Safe Harbor).
A few months ago we wrote about Congress utilizing the Inflation Reduction Act of 2022 to offer bonus tax credits to certain energy facilities for meeting specified "domestic content" requirements.
The Treasury Guidance adopts the phrase Applicable Project to identify those qualified facilities, energy projects, and investments that are subject to the domestic content tax credit under 26 C.F.R. Sections 45, 45Y, 48, and 48E.