The Treasury Department and IRS on Wednesday released guidance that provides more details on the procedures and criteria for entities to apply for allocations to be able to receive increased tax credits for solar and wind facilities in low-income communities.
The proposed rules (REG-110412-23, RIN 1545-BQ81) follow initial guidance that was released in February.
The Inflation Reduction Act created bonus investment tax credits for certain projects in low-income communities. Projects that meet certain criteria can receive increased credit amounts of 10 or 20 percentage points. The tax-credit program has an annual limitation of 1.8 gigawatts of direct current ...
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