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The Notice provides a safe harbor for the classification of certain project components typically found in utility-scale photovoltaic systems, land-based wind facilities...
On 12 May 2023, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released guidance for the domestic content bonus credit under Sections 45, 45Y, 48, and 48E of the Internal Revenue Code (Code).
Notice 2023-38 provides long-awaited and much-needed guidance for taxpayers seeking to capitalize on the IRA’s bonus credits for renewable energy projects. However, these guidelines are not yet finalized as rules.
Introduction - On 12 May 2023, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released guidance for the domestic content bonus credit under Sections...