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The Department of Treasury and the Internal Revenue Service (IRS) have recently released updated guidance relating to the 2024 Program Year for the Section 48(e) Low-Income Communities...
On August 10, 2023, the IRS issued T.D. 9979 (the "Final Regulations") and Revenue Procedure 2023-27 (the "Revenue Procedure"). The Final Regulations and the Revenue Procedure address...
On August 10, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued final regulations (the “Final Regulations”)1 providing additional...
The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for certain wind and...
On June 1, 2023, the Treasury Department and IRS issued additional guidance regarding the Allocation Program in the form of proposed rules which are intended to apply to the 2023 calendar year only.