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Treasury, IRS Outline Requirements for Statistical Area Category, Coal Closure Category of Energy Community Bonus Credit

Friday, June 7, 2024 - 9:12AM

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today announced they will publish criteria in the June 24 Internal Revenue Bulletin for taxpayers to ascertain whether they meet requirements for two categories of the Energy Community Bonus Credit outlined in a previous notice. Notice 2024-48 will cover taxpayers under the Statistical Area Category and the Coal Closure Category. Appendix I outlines the criteria for the Statistical Area Category; Appendix II does the same for the Coal Closure Category. The credit applies to aspects of Sections 45, 45Y, 48 and 48E of the Internal Revenue Code (IRC). Treasury and the IRS also updated the frequently asked questions page for energy communities.

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