Tax Law and News IRS guidance for domestic content bonus credit Read the Article Open Share Drawer Share this: Click to share on X (Opens in new window) X Click to share on Facebook (Opens in new window) Facebook Click to share on LinkedIn (Opens in new window) LinkedIn Written by Intuit Accountants Team Modified May 25, 2023 1 min read The U.S. Department of Treasury and the IRS recently issued Notice 2023-38 for owners of green energy projects, such as wind, solar, and energy storage technologies. Domestic content is generally defined as steel, iron, or manufactured products that are manufactured or produced in the United States. This notice of intent to propose regulations provides initial guidance regarding the application of the rules that taxpayers must satisfy to qualify for the domestic content bonus credit amounts, and the related record keeping and certification requirements. The guidance also describes a safe harbor regarding the classification of certain components in representative types of qualified facilities, energy projects, or energy storage technologies. Your clients and taxpayers may rely on the rules described in this notice for qualified facilities, energy projects, or energy storage technologies, the construction of which begins before the date that is 90 days after the date the proposed regulations are published in the Federal Register. Editor’s note: Visit the Intuit® Tax Pro Center often for more IRS news. Previous Post Tax relief in declared disaster areas Next Post What happens when clients receive IRS letters Written by Intuit Accountants Team The Intuit® Accountants team provides ProConnect™ Tax, Lacerte® Tax, ProSeries® Tax, and add-on software and services to enable workflow for its customers. Visit us online or follow us on X, Instagram, Facebook, and LinkedIn. More from Intuit Accountants Team Comments are closed. Browse Related Articles Tax Law and News Year-round tax planning tips for clients Practice Management Optimizing your firm for hybrid and remote work Grow your practice Scale your firm, your way Advisory Services Modern marriage issues: Postnup agreements Tax Law and News One Big Beautiful Bill summary and tax changes Webinars AI: Boost Productivity & Client Relationships—July 14 Workflow tools Impact of CRM, portal, and PM software Tax Law and News Potential tax benefits for homeowners Practice Management 5 tips to prepare for the business extension deadline Practice Management “Deduct This! with Carrie and Lexi” podcast launches