The IRS is continuing to offer office hours (through Microsoft Teams) to help entities with the pre-filing registration process on the new IRA/CHIPS Pre-filing Registration Tool. Pre-filing registration is a required step for applicable entities, including Tribal Nations to take advantage of elective payment or transfer of credits available in the Inflation Reduction Act and CHIPS Act. Representatives from the IRS will be available to answer your pre-filing registration questions.
Date: May 1, 2024 Time: 1-2:30 p.m. EDT Register Date: May 8, 2024 Time: 1-2:30 p.m. EDT Register Date: May 15, 2024 Time: 1-2:30 p.m. EDT Register
Background on Elective Pay Under Section 6417 of the Inflation Reduction Act, certain tax-exempt governmental entities, including Tribal governments, are newly authorized to access certain clean energy tax credits as payments from the Internal Revenue Service (IRS). Since Tribal governments generally do not pay taxes to the federal government, Tribal governments are now eligible to apply for the direct payment of these clean energy tax credits to recoup or offset the costs of constructing and putting into service a clean energy project. For the first time, Tribal governments are able to make a direct payment election using twelve applicable credits, including the major clean/green energy production tax credits and investment tax credits, as well as credits for qualified clean commercial vehicles, alternative fuel vehicle refueling property, and carbon oxide sequestration. For more information on elective pay, please visit www.usetinc.org/infrastructure.
Please contact Melanie Plucinski, Tribal Infrastructure Policy Analyst, at mplucinski@usetinc.org if you have any questions.
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