Between the Lines Blog

Treasury, Internal Revenue Service Issue Final Regulations for Transfer of Energy Credits
Category: Municipal and Public Finance
On April 25, 2024, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations regarding the transfer of energy tax credits under the Inflation Reduction Act of 2022 (IRA). Proposed regulations regarding transferability of energy tax credits were…
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Low-Income Communities Bonus Credit Applications Opening Date Announced
Category: Municipal and Public Finance, Tax
The U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) announced on May 13, 2024, the opening date for applications for the 2024 program year of the Low-Income Communities Bonus Credit Program (Bonus Credit Program) under Section 48(e) of the Internal Revenue Code. Last…
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IRS Releases 2024 Procedural Guidance for Solar and Wind Projects in Low Income Communities
Category: Municipal and Public Finance, Tax
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 (Code). The program created by the Inflation Reduction Act provides an increase…
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Long Awaited Elective Payment Election Final Regulations and Other Guidance Issued by Treasury Department and IRS
Category: Legislative Updates, Municipal and Public Finance, Tax
On March 5, 2024, the U.S. Department of Treasury and Internal Revenue Services (IRS) released final regulations regarding the direct payment election under the Inflation Reduction Act of 2022 (IRA), a tax credit monetization opportunity for certain applicable entities such as state and local…
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Solar Projects? It's Time for Governmental and Tax-Exempt Entities to File for Applicable Tax Credits
Category: Municipal and Public Finance, Tax
As provided for in the 2022 Inflation Reduction Act (or IRA), entities not subject to taxation such as cities, counties, municipal utilities, school districts and 501(c)(3) organizations (or tax-exempt entities) can now take direct advantage of tax credits (including the investment tax credit (or…
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