In a new article published by Bloomberg Tax, Akerman Tax Practice Partner Anne Levin-Nussbaum breaks down proposed regulations concerning the IRS program for administering new tax incentives aimed at encouraging the development of green energy facilities in low-income communities. Under the new law added by the Inflation Reduction Act, owners of qualifying wind and solar projects could claim up to a 20% additional investment tax credit if they receive an allocation award under the program.

Levin-Nussbaum does a deep dive into the application process, the initial selection period, and additional clarifications and guidance.