Treasury, IRS to Create Registry to Monetize Energy Tax Credits

The Treasury and IRS are working on an electronic pre-filing registration process for companies and organizations that want to monetize clean energy tax credits, an official said Wednesday.

President Joe Biden’s tax-and-climate law outlines two options for eligible taxpayers looking to monetize the credits. Governments and exempt organizations can elect for the tax credits to be treated as a direct payment to the IRS. Other taxpayers can transfer all or some of the credits one time to an unrelated third party.

The registration process will be launched “late this year” and will provide the IRS with basic information to ensure ...