N-2024-84: Extension of Transition Process for Claiming the Statutory Exceptions to the Elective Payment Phaseouts

Notice 2024-84 extends the transition process for claiming a statutory exception to the elective payment phaseouts contained in section 5 of Notice 2024-9, 2024-2 I.R.B. 358. Thus, if an Applicable Entity provides an attestation described in section 5.02 of Notice 2024-9 with respect to an Applicable Credit Property the construction of which begins before the later of January 1, 2027, or the issuance of further guidance, the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) will treat the attestation as establishing that a Domestic Content Exception is met with respect to such Applicable Credit Property.

Notice 2024-84 will be in IRB: 2024-50, dated December 9, 2024.

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