Date: 10/11/2024
Type: Implementation of IRA
On October 11, 2024, Treasury and IRS announced an automatic 6-month extension for entities making an elective payment under IRC section 6417, a provision that facilitates the direct pay of clean energy tax credits that was enacted by IRA section 13801. The extension applies to applicable entities filing a Form 990-T to make an elective payment election for a taxable year ending on any day from Dec. 31, 2023, through Nov. 30, 2024.