The Department of Energy opened its portal for clean energy companies to apply for a piece of $10 billion in Inflation Reduction Act tax credit funding, the IRS announced on Friday.
The Biden administration’s tax-and-climate law expanded the tax credit program under tax code Section 48C(e), providing up to a 30% tax credit to taxpayers building clean energy projects. Treasury and the IRS released its second tranche of guidance in May on how to apply for a portion of the allocation for the advanced energy projects tax credit program.
Taxpayers are required to submit a concept paper to the ...
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