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The Internal Revenue Service (IRS) issued Announcement 2024-25 today, which will be included in the June 17 Internal Revenue Bulletin, to announce that 324.785 megawatts (MW) of unallocated environmental justice solar and wind capacity limitation from the 2023 Low-Income Communities Bonus Credit Program has been carried over to 2024.

The Internal Revenue Service (IRS) issued today a notice that expanded the safe harbor for two types of renewable energy facilities for the domestic content bonus for renewable energy tax credits (RETCs) along with a new safe harbor for classifying and calculating amounts of the domestic content bonus.

The U.S. Department of the Treasury and Internal Revenue Service (IRS) announced today that applications will open at 9 a.m. ET May 28 for the 2024 program year of the low-income communities bonus program for the Internal Revenue Code (IRC) Section 48(e) investment tax credit (ITC). All applications submitted in the first 30 days will be treated as being submitted on the same date at the same time.

The Internal Revenue Service (IRS) today issued a notice announcing the second round of credit allocations under the Internal Revenue Code (IRC) Section 48C qualifying advanced energy project credit program. The $6 billion in credits are for owners of clean energy manufacturing and recycling projects, greenhouse gas emission reduction projects and critical material projects. Notice 2024-36 says that the Department of Treasury and IRS will partner with the Department of Energy (DOE) to recommend projects for allocation, with the DOE Section 48C portal opening no later than May 28 for owners to submit a concept paper and start seeking the credit allocation.

The U.S. Department of the Treasury and Internal Revenue Service (IRS) today released final guidance that describes rules and definitions for transferrable tax credits for incentives included in the Inflation Reduction Act (IRA) of 2022. The final regulations will be published in Monday’s Federal Register.

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