The following is an overview of guidance regarding the Inflation Reduction Act's (IRA) Low-Income Communities Bonus Credit Allocation Program (LIC Bonus) and the Energy Community Tax.
On May 31, 2023, the Internal Revenue Service ("IRS") and the Department of the Treasury ("Treasury") released proposed rules relating to the Low-Income Communities Bonus Credit Program.
IRS and Department of Treasury announced proposed rule to determine eligibility for Low Income Communities Bonus Credit Program under Inflation Reduction Act. Rules define what wind and solar facilities qualify and the categories for qualifying facilities.
Treasury Issues Additional Guidance on Low-Income Community Bonus Credit | Paul Hastings LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
The U.S. Department of the Treasury (Treasury) earlier this week issued a notice of proposed rulemaking regarding the up to 20 percentage point additional investment tax credit (ITC).