On May 31, 2023, the IRS released Notice 2023-44, which provides additional guidance for applicants seeking allocations of the Qualifying Advanced Energy Project Credit under Section 48C of the

Continue Reading IRS Provides Additional Guidance for Advanced Energy Projects Under Section 48C of the Code

The Internal Revenue Service issued proposed regulations on May 31, 2023, for the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code. The proposed regulations provide

Continue Reading IRS Issues Proposed Regulations for Energy Projects Located in Low-Income Communities

On Aug. 29, the IRS released a new section to the Internal Revenue Manual (IRM), 20.1.1.3.3.2.2, providing penalty relief for certain taxpayers filing 2019 and 2020 returns in response to
Continue Reading IRS Revisions to Internal Revenue Manual Clarify Who Is Eligible for Late Filing Penalty Relief