On May 31, 2023, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-44 (May 31 Notice) providing additional details for applicants.
The application cycle for the first round of credits will soon open. Treasury’s additional guidance clarifies what types of facilities may qualify for credits, the submission process.
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,.