other · IRS · Rule · Published 2024-10-28 · Effective 2024-12-27 · 89 FR 85798
Document
Document number
2024-24840
Federal Register citation
89 FR 85798
CFR reference
26 CFR 1
Type
Rule
Action
Final rule.
Category
other
Sub-agency
IRS
Publication date
2024-10-28
Effective date
2024-12-27
Treasury docket
TD 10010
Abstract
This document sets forth final regulations regarding the advanced manufacturing production credit established by the Inflation Reduction Act of 2022 to incentivize the production of eligible components within the United States. Eligible components include certain solar energy components, wind energy components, inverters, qualifying battery components, and applicable critical minerals. These final regulations also address specific recordkeeping and reporting requirements. These final regulations affect eligible taxpayers who produce and sell eligible components and intend to claim the benefit of an advanced manufacturing production credit, including by making elective payment or credit transfer elections.