News & Analysis as of

Investment Tax Credits Low-Income Issues Inflation Reduction Act (IRA)

Mitchell, Williams, Selig, Gates & Woodyard,...

IRS Releases 2024 Procedural Guidance for Solar and Wind Projects in Low Income Communities

Last week the Department of Treasury and Internal Revenue Services (IRS) issued procedural guidance for the second year of the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code...more

Foley & Lardner LLP

IRS Releases Final Treasury Regulations on Low-Income Community Bonus Credits

Foley & Lardner LLP on

The Internal Revenue Service (IRS) and Department of the Treasury earlier this month released final regulations (the “Low-Income Community Bonus Credit Rules”) relating to the low-income community bonus credit pursuant to...more

Lowndes

Applications for Low-Income Communities Bonus Tax Credits to Open in Early Fall

Lowndes on

Last year’s Inflation Reduction Act created the Low-Income Communities Bonus Credit Program. This program provides additional energy tax credits on top of the existing 30% investment tax credit. According to Section 48(e) of...more

Eversheds Sutherland (US) LLP

Limited initial guidance issued for section 48(e) investment tax credit enhancer

On February 13, 2023, the Department of Treasury (Treasury) and the Internal Revenue Service (Service) issued Notice 2023-17 (Notice), establishing the 48(e) Low-Income Communities Bonus Credit Program (Program) with respect...more

Mintz - Energy & Sustainability Viewpoints

IRA Update: IRS Releases Limited Guidance on Low-Income Community Adder and Establishes Allocation Program Needed to Make the...

On Monday, February 13, 2023, the Department of the Treasury (Treasury) and the IRS published Notice 2023-17 (the Notice), establishing the program for allocating environmental justice capacity limitations (the Allocation...more

Paul Hastings LLP

IRS Issues Guidance on Low-Income Community Bonus Credit

Paul Hastings LLP on

The Inflation Reduction Act of 2022 (the “IRA”) added and modified certain renewable energy tax credit provisions of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), including the provisions applicable to the...more

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