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April 29, 2024

IRS releases 2024 allocation guidance for IRC Section 48C advanced energy project credits

Treasury and the IRS today released guidance (Notice 2024-36) on the second round of allocations under the IRC Section 48C(e) program for qualifying advanced energy project credits (see Tax Alert 2023-1012). This round will allocate approximately $6b, with approximately $2.5b to energy community census tracts. A Tax Alert is forthcoming.

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Published by NTD’s Tax Technical Knowledge Services group; Chris DeZinno, legal editor