 |
|||
|
|||
News EssentialsThe Newsroom TopicsIRS Resources |
Issue Number:? ??IR-2023-69Inside This IssueIRS issues guidance on eligibility requirement for energy communities for the bonus credit program under the Inflation Reduction Act WASHINGTON ? The Internal Revenue Service today issued Notice 2023-29 that describes certain rules that the IRS intends to include in forthcoming proposed regulations for determining what constitutes an energy community for the production and investment tax credits. The Inflation Reduction Act allows for increased credit amounts if certain requirements pertaining to energy communities are satisfied. There are three categories of energy communities: brownfield sites, certain metropolitan statistical areas based on unemployment rates (MSA/non-MSA), and brownfield sites. The increased credit amount available for meeting the requirements of the energy community provisions is generally 10% for the production tax credit and 2% for meeting the requirements for the investment tax credit (10% if prevailing wage and apprenticeship requirements or certain other requirements are also met). More information can be found on the Inflation Reduction Act of 2022 page on IRS.gov.
Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message. |
||
| This email was sent to [email protected] by: Internal Revenue Service (IRS) ? Internal Revenue Service ? 1111 Constitution Ave. N.W. ? Washington DC 20535 |  |
