IR-2024-149: Department of Treasury, IRS and Department of Energy announce opening of application portal for 2024 Program Year of the Low-Income Communities Bonus Credit Program

Bookmark and Share

IRS.gov Banner
IRS Newswire May 28, 2024

News Essentials

What's Hot

News Releases

IRS - The Basics

IRS Guidance

Media Contacts

Facts & Figures

Around The Nation

e-News Subscriptions


The Newsroom Topics

Multimedia Center

Noticias en Español

Radio PSAs

Tax Scams

The Tax Gap

Fact Sheets

IRS Tax Tips

Armed Forces

Latest News Home


IRS Resources

Contact My Local Office

Filing Options

Forms & Instructions

Frequently Asked Questions

News

Taxpayer Advocate

Where to File

IRS Social Media


Issue Number:    IR-2024-149

Inside This Issue


Department of Treasury, IRS and Department of Energy announce opening of application portal for 2024 Program Year of the Low-Income Communities Bonus Credit Program

WASHINGTON — The Department of Treasury, Internal Revenue Service and Department of Energy (DOE) announced today that the application portal for the 2024 Low-Income Communities Bonus Credit Program is now open.

Applications are being accepted beginning today at 9:00am ET, with a 30-day initial application window which concludes at 11:59 pm ET on June 27. During this 30-day initial application window all applications will be considered as submitted at the same date and time. Applications submitted after the 30-day application window will then be evaluated on a rolling basis.

Created by the Inflation Reduction Act, the Low-Income Communities Bonus Credit Program provides a 10 or 20 percentage point increase to the energy investment credit for solar and wind facilities under five megawatts (AC) that apply for and receive an allocation of environmental justice solar and wind capacity limitation.

Taxpayers that receive an allocation and properly place the facility in service may then claim the increased energy investment credit in the year that the facility is placed in service.

More information can be found on the Inflation Reduction Act of 2022 page on IRS.gov.

 

Back to Top


FaceBook Logo  YouTube Logo  Instagram Logo  Twitter Logo  LinkedIn Logo


Thank you for subscribing to the IRS Newswire, an IRS e-mail service.

If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe.

This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.