Energy project developers and investors can apply for a share of the first $4 billion in credits the IRS will allocate to clean energy property projects under the Inflation Reduction Act.
IRS released Notice 2023-18 outlining a four-stage process and timeline for taxpayers to obtain these credits. Applicants must submit a concept paper describing their project to the Energy Department by July 31.
IRS intends to issue additional guidance by May 31, providing more details on the process, eligibility requirements, project evaluation criteria, and deadlines.
Download the BTAX OnPoint: IRS Opens Access to $4 Billion of Advanced Energy Project Credits ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.