The Internal Revenue Service on Friday opened the registration portal for taxpayers selling eligible tax credits, including investment tax credits and production tax credits. The portal also permits tax-exempt and other eligible taxpayers to initiate the application process for direct payments for certain tax credits. The IRS has recommended that taxpayers complete the pre-filing registration process at least 120 days prior to when the taxpayer plans to file its tax return making the transfer or direct pay election. The registration tool is available here. The Foley & Lardner team looks forward to working with clients to navigate the application process.
Disclaimer
This blog is made available by Foley & Lardner LLP (“Foley” or “the Firm”) for informational purposes only. It is not meant to convey the Firm’s legal position on behalf of any client, nor is it intended to convey specific legal advice. Any opinions expressed in this article do not necessarily reflect the views of Foley & Lardner LLP, its partners, or its clients. Accordingly, do not act upon this information without seeking counsel from a licensed attorney. This blog is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Communicating with Foley through this website by email, blog post, or otherwise, does not create an attorney-client relationship for any legal matter. Therefore, any communication or material you transmit to Foley through this blog, whether by email, blog post or any other manner, will not be treated as confidential or proprietary. The information on this blog is published “AS IS” and is not guaranteed to be complete, accurate, and or up-to-date. Foley makes no representations or warranties of any kind, express or implied, as to the operation or content of the site. Foley expressly disclaims all other guarantees, warranties, conditions and representations of any kind, either express or implied, whether arising under any statute, law, commercial use or otherwise, including implied warranties of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Foley or any of its partners, officers, employees, agents or affiliates be liable, directly or indirectly, under any theory of law (contract, tort, negligence or otherwise), to you or anyone else, for any claims, losses or damages, direct, indirect special, incidental, punitive or consequential, resulting from or occasioned by the creation, use of or reliance on this site (including information and other content) or any third party websites or the information, resources or material accessed through any such websites. In some jurisdictions, the contents of this blog may be considered Attorney Advertising. If applicable, please note that prior results do not guarantee a similar outcome. Photographs are for dramatization purposes only and may include models. Likenesses do not necessarily imply current client, partnership or employee status.
Author(s)
Related Insights
29 October 2024
Energy Current
IRS Releases Final Regulations for Section 45X Advanced Manufacturing Credit
The Internal Revenue Service and Department of the Treasury last week released final regulations relating to the advanced manufacturing production tax credit under Section 45X of the Internal Revenue Code.
28 October 2024
Powered by Foley
2024 Election Preview
It’s election season, which means there are almost as many campaign commercials as there are pumpkin-spiced treats these days. But what does the campaign trail tell us about the future of energy policy in Washington?
09 October 2024
Energy Current
Mexican Administration Offers Boost to Clean Energy, Infrastructure Under New Leadership
Claudia Sheinbaum made history last week as Mexico’s first female president and laid out her vision to promote clean energy and increase investment in the infrastructure sector.