IRS Issues Guidance on Elective Payment Statutory Exemption

Date: 12/28/2023

Deadline: 02/26/2024

Type: Implementation of IRA

On December 28, 2023, Treasury and IRS issued guidance on claiming a statutory exemption for elective payment on clean energy tax credits through IRA section 13801 where projects beginning construction in 2024 fail to meet domestic content requirements. IRS is also requesting comments through Feb. 26, 2024 to aid it in developing proposed rules.

Opportunities for Participation and Additional Resources:

Notice: https://www.irs.gov/pub/irs-drop/n-24-09.pdf
Press Release: https://www.irs.gov/newsroom/treasury-irs-provide-guidance-for-certain-clean-energy-producers-related-to-domestic-content-request-additional-comments-for-upcoming-regulations