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May 22, 2024

IRS announces opening of second round of allocations for IRC Section 48C credits for qualifying advanced energy projects

The IRS announced today that the Department of Energy (DOE) portal for submitting concept papers for advanced energy projects applying for the second round of IRC Section 48C credit allocations will be open until June 21, 2024, at 5 p.m. EST. Applicants must submit a concept paper before submitting an IRC Section 48C(e) program application. The IRS released earlier guidance on the application process in Notice 2024-36 (see Tax Alert 2024-0909, which has been updated to reflect the submission deadline).

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Published by NTD’s Tax Technical Knowledge Services group; Andrea Ben-Yosef, legal editor