Sign Up For Novogradac Industry Alert Emails

NEW NOTICES: ADVANCED COAL, GASIFICATION PROJECT TAX CREDITS

Thursday, June 7, 2007 - 7:00AM

The Treasury Department and the Department of Energy (DOE) today released new instructions for applying for the tax credits for advanced coal projects and gasification projects that provide additional time to submit applications. For the 2007-2008 allocation round, applications for DOE certification are not due until October 31, 2007. IRS Notices 2007-52 and 2007-53, outline the procedures for allocation of credits under the advanced coal project program and the qualifying gasification project program, respectively, as well as modifications made from last year's application and allocation processes. Under the new credit allocation process, the DOE will rank a certified project relative to other certified projects and up to approximately $650 million of credits will be allocated to projects based on the ranking.

Learn more about Novogradac's expertise and many services