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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.

The U.S. Environmental Protection Agency (EPA) today announced $20 billion in grant awards for two categories in the Greenhouse Gas Reduction Fund (GRRF), which was created by the Inflation Reduction Act of 2022. Three organizations will receive a combined $14 billion in grants under the National Clean Investment Fund and five organizations will receive a combined $6 billion in grants in the Clean Communities Investment Accelerator.

The Internal Revenue Service (IRS) today issued guidance providing the capacity limitations for the four project categories in the 2024 program round of the 1.8-gigawatt low-income communities bonus credit program established in 2022’s Inflation Reduction of Act (IRA) for solar and wind projects using the investment tax credit (ITC).

The Internal Revenue Service (IRS) issued Notice 2024-30 today to expand certain rules for determining what an energy community is for the production and investment tax credits. The Inflation Reduction Act of 2022 (IRA) allows for increased tax credit amounts or rates if certain requirements are met relating to energy communities.

The U.S. Department of Treasury today published analysis on the success of the Inflation Reduction Act (IRA) of 2022 in driving clean energy investment to "energy communities"–those communities historically dependent on fossil fuel energy jobs and tax revenues, including areas with closed coal mines or coal-fired power plants.

The Internal Revenue Service (IRS) announced Tuesday it will issue in the March 11 Federal Register elective pay final regulations for the renewable energy investment tax credit (ITC). The decision adopts and codifies temporary regulations issued in June 2023 with slight modifications after two rounds of public comments, including a comment letter and testimony from the Renewable Energy Working Group, hosted by Novogradac.

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