Date: 10/24/2024
Deadline: 12/24/2024
Type: Implementation of IRA
On October 24, 2024, Treasury and IRS released proposed rules and a revenue procedure providing guidance on the IRC section 25C Energy Efficient Home Improvement Credit expanded by IRA section 13301. The revenue procedure and proposed regulations provide rules for manufacturers to register to be qualified manufacturers and satisfy certain other requirements, and rules for taxpayers to calculate the tax credit. Written or electronic comments on the proposed rules must be received by December 24, 2024. A public hearing on the proposed regulations is scheduled to be held on January 21, 2025, at 10 a.m. ET.
Opportunities for Participation and Additional Resources:
- Proposed Rule: https://www.federalregister.gov/documents/2024/10/25/2024-24110/energy-efficient-home-improvement-credit
- Revenue Procedure: https://www.irs.gov/pub/irs-drop/rp-24-31.pdf
- Press Release: https://www.irs.gov/newsroom/treasury-and-irs-issue-guidance-for-the-energy-efficient-home-improvement-credit