The IRS is “very actively” working on regulations relating to the definition of qualifying energy property for purposes of the energy tax credit under tax code Section 48, an IRS official said Friday.
Charles Hyde, an attorney in the IRS chief counsel’s office, spoke at a conference hosted by the American Bar Association’s Tax Section. The regulations are a project on the IRS’s current priority guidance plan.
Brian Americus, a principal with Deloitte Tax, said the regulations, which pertain to the investment tax credit, have been under development for a number of years.
The IRS in 2015 solicited comments ...