May 31, 2023
IRS proposes regulations for Low-Income Communities Bonus Credit Program
In proposed regulations (REG-110412-23), the IRS provides additional guidance on the Low-Income Communities Bonus Credit Program, established under the Inflation Reduction Act of 2022. The new guidance outlines proposed definitions and requirements applicable to certain solar- and wind-powered electricity generation facilities. The IRS asks that comments be submitted by June 30, 2023. A Tax Alert is forthcoming.
Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor