February 13, 2023
IRS establishes tax credit program to bring solar and wind power to low-income areas
The IRS has announced (IR-2023-26) guidance (Notice 2023-17) establishing the Low-Income Communities Bonus Credit Program to provide solar and wind power to certain low-income areas. This guidance applies to owners of certain solar and wind facilities placed in service in connection with low-income communities that are eligible for the IRC Section 48 energy investment credit. A Tax Alert is forthcoming.
Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor