The Treasury Department and IRS on Tuesday finalized rules for electing out of partnership tax status, a move aimed at helping tax-exempt organizations access incentives for clean-energy projects.
The final rules (TD 10012, RIN 1545-BR09) are intended to make it easier for such organizations to be eligible for direct pay, or cash payments of tax credits, when they partner with private developers and investors on clean-energy projects.
The rules will help developers initiate more projects by providing “clarity and flexibility” about access to direct pay and making more capital available, Deputy Treasury Secretary Wally Adeyemo said in ...
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