Inflation Reduction Act Guidance and Other Important Documents

Below is a list of relevant guidance and other important documents relating to the enactment and implementation of the Inflation Reduction Act of 2022. The list will be periodically updated as Treasury and the IRS release additional materials:

Energy:

• Notice 2024-5, Extending Safe Harbor for the Section 45W Commercial Clean Vehicle Credit (December 20, 2023);

  • Energy Department Analysis on Incremental Costs (December 20, 2023);

• Notice 2024-6 on the Section 40B Sustainable Aviation Fuel Credit (December 15, 2023);

• User Guide and Instructions for Pre-Filing Registration Process for Elective Pay and Transferability (December 14, 2023);

• Proposed Regulations on the Section 45X Advanced Manufacturing Production Credit (December 14, 2023);

• Treasury Proposed Regulations on Foreign Entity of Concern for the Section 30D Clean Vehicle Credit (December 1, 2023);

  • Revenue Procedure 2023-38 on the Section 30D Clean Vehicle Credit (December 1, 2023);

  • Energy Department Interpretive Guidance on the Statutory Definition of Foreign Entity of Concern (December 1, 2023);

• Proposed Regulations on Section 48 Energy Property (November 17, 2023);

• Online Portal for Dealership Registration for Clean Vehicle Credit Transfers (November 1, 2023);

• Proposed Regulations, Sections 25E and 30D Credit Transfers (October 6, 2023);

  • Revenue Procedure 2023-33, Sections 25E and 30D Credit Transfers (October 6, 2023);

• Notice 2023-65, Section 45L Energy Efficient Home Credit (September 27, 2023);

• Remarks by Assistant Secretary for Tax Policy Lily Batchelder on Phase Two of Implementation of the Inflation Reduction Act’s Clean Energy Provisions (September 8, 2023);

• Proposed Regulations on the Prevailing Wage and Apprenticeship Requirements (August 29, 2023);

• Final Regulations on Low-Income Energy Communities Bonus Credit (August 10, 2023);

• Final Rule from the Labor Department Updating Davis Bacon and Related Acts (August 8, 2023);

• Revenue Procedure 2023-27, Process for Applying for the Environmental Justice Wind and Solar Capacity Allocation (August 10, 2023);

• Notice 2023-47, Energy Community Bonus Credit Annual Statistical Area Category and Coal Closure Requirements (June 15, 2023);

• Notice 2023-45, Energy Community Bonus Credit Amounts (June 15, 2023);

• Proposed Regulations, Section 6418 Transferability (June 14, 2023);

• Proposed Regulations, Section 6417 Direct Pay (June 14, 2023);

• Temporary Regulations, Pre-filing Registration Requirements for Direct Pay and Transferability (June 14, 2023);

• Notice 2023-44, Section 48C Advanced Energy Manufacturing Credit (May 31, 2023);

• Proposed Regulations, Low-income community bonus credit (May 31, 2023);

• Notice 2023-23, Domestic Content Bonus Credit (May 12, 2023);

• Notice 2023-29, Energy Community Bonus Credit Amounts (April 4, 2023);

  • Appendix A;

  • Appendix B;

  • Appendix C;

  • Energy communities mapping tool;

• Proposed Regulations, Section 30D New Clean Vehicle Credit (published April 17, 2023);

• Frequently Asked Questions related to new, previously owned, and qualified commercial clean vehicle credits (updated March 2023);

• Notice 2023-18, Section 48C Advanced Energy Manufacturing Credit Initial Guidance (February 13, 2023);

• Notice 2023-17, Guidance on the Low-income Communities Bonus Credit (February 13, 2023);

• Notice 2023-16, Certain Definitions of Terms for the Section 30D Clean Vehicle Credit (February 3, 2023);

• Notice 2023-9, Section 45W Commercial Clean Vehicles and Incremental Costs (December 29, 2022);

• Notice 2023-1, Section 30D Clean Vehicle Credit Notice of Intent to Issue Proposed Regulations (December 29, 2022);

• Frequently Asked Questions related to the energy efficient home improvements and residential clean energy property credits (December 22, 2022);

• Notice 2023-6, Sustainable Aviation Fuels (December 19, 2022);

• Rev. Proc. 2022-42, Submission of Information to IRS for Clean Vehicle Manufacturers (December 12, 2022);

• Notice 2022-61, Prevailing Wage and Apprenticeship Initial Guidance (November 30, 2022);

• Notice 2022-56, Request for Comments on Qualified Commercial Clean Vehicle and Alternative Fuel Vehicle Refueling Property Credits (November 3, 2022);

• Notice 2022-57, Request for Comments on Carbon Oxide Sequestration Credits (November 3, 2022);

• Notice 2022-58, Request for Comments on Hydrogen Fuel Credits (November 3, 2022);

• Notice 2022-46, Request for Comments on Clean Vehicles Credits (October 5, 2022);

• Notice 2022-47, Request for Comments on Manufacturing Tax Credits under Sections 45X and 48C (October 5, 2022);

• Notice 2022-48, Request for Comments on Incentives for Residential and Commercial Buildings Energy Efficiency (October 5, 2022);

• Notice 2022-49, Request for Comments on Energy Generation Incentives (October 5, 2022);

• Notice 2022-50, Request for Comments on Direct Pay and Credit Transferability (October 5, 2022);

• Notice 2022-51, Request for Comments on Prevailing Wage, Apprenticeship, Domestic Content, and Energy Communities (October 5, 2022);

Corporate alternative minimum tax and stock buyback excise tax:

• Notice 2024-10, Additional Interim Guidance on the CAMT (December 15, 2023);

• Notice 2023-64, Additional Interim Guidance on the CAMT (September 12, 2023);

• Announcement 2023-18, Transitional Guidance with Respect to the Stock Buyback Excise Tax (June 29, 2023);

• Notice 2023-42, Estimated Tax Payment Penalty Relief for CAMT (June 7, 2023);

• Notice 2023-20, Interim Guidance Regarding Certain Insurance Related Issues for the Determination of the Corporate Alternative Minimum Tax (February 17, 2023);

• Notice 2023-7, Initial Guidance Regarding the Application of the Corporate Alternative Minimum Tax (December 27, 2022);

• Notice 2023-2, Initial Guidance on the Application of the Corporate Stock Buyback Excise Tax (December 27, 2022);

IRS funding:

• Treasury and IRS Announcement of Initiatives to Increase Enforcement on Large Corporations and High-Income Individuals (October 20, 2023);

• IRS Announcement on Increased Enforcement Activity on Partnerships and Wealthy Individuals (September 8, 2023);

• IRS Report to Congress on IRS-run Direct e-File Tax Return System (May 16, 2023);

• IRS Inflation Reduction Act Strategic Operating Plan (April 6, 2023);

Legislative History and Other Related Items:

• “Factors Considered When Estimating the Revenue Effects of the Energy Provisions of Public Law 117-169 and Subsequent Developments,” JCT Report (May 2023);

• JCX-7-23, Revenue Estimates of the Limit, Save, Grow Act, JCT (April 26, 2023);

• JCX-5-23, Description of Energy Tax Changes Made by P.L. 117-169 (Inflation Reduction Act), JCT (April 17, 2023);

• JCX-18-22, Estimated Budget Effects of the Revenue Provisions in the Inflation Reduction Act, JCT (August 9, 2022);

• JCX-19-22R, Distributional Effects of the Revenue Provisions in the Inflation Reduction Act, JCT (August 9, 2022).