IRS Issues Proposed Regulations on the Clean Electricity Production Credit and the Clean Electricity Investment Credit
The U.S. IRS has announced the issuance of proposed regulations on 29 May 2024 regarding the Clean Electricity Production Credit and the Clean Electricity Investment Credit established by the Inflation Reduction Act of 2022. As explained in a separate release from the U.S. Treasury Department, the Inflation Reduction Act sunsets the existing Production Tax Credit (section 45 of the tax code) …
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