Treasury Floats New Guidance, Proposal For IRA Clean Energy Credits

The Treasury Department is releasing a new round of guidance for administering tax credits for advanced energy manufacturing projects under the Inflation Reduction Act’s (IRA) updates to the “section 48C” credit, as the department prepares to accept initial concept papers from applicants for the incentive before August. The additional guidance released May 31 builds upon a prior guidance document from February . It comes as department officials are separately releasing a proposed rule for implementing the IRA’s “48(e)” tax credit...