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A few months ago we wrote about Congress utilizing the Inflation Reduction Act of 2022 to offer bonus tax credits to certain energy facilities for meeting specified "domestic content" requirements.
The Treasury Guidance adopts the phrase Applicable Project to identify those qualified facilities, energy projects, and investments that are subject to the domestic content tax credit under 26 C.F.R. Sections 45, 45Y, 48, and 48E.
On May 12, 2023, the Internal Revenue Service (IRS) issued initial guidance (Notice 2023-38, the Notice) outlining how taxpayers can qualify for the domestic content bonus credit amounts...
Inflation Reduction Act of 2022 the IRA incl domestic content bonus credit DC Bonus and added tax credit for renewable energy and storage projects constructed wit US sourced materials, the Domestic Content Requirement, Build America Requirements need domestic steel and Iron
On Friday, May 12, 2023, the Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-38 (the Notice) providing guidance regarding qualification for the domestic...