United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2023_register executive 2023-07-24 article Part IV Proposed Rules D09002ee1c79b3b60 D09002ee1c79b3c8e United States Department of the Treasury originator org United States Government Agency or Subagency United States Internal Revenue Service originator org United States Government Agency or Subagency This document contains proposed regulations concerning the election under the Inflation Reduction Act of 2022 to treat the amount of certain tax credits as a payment of Federal income tax. The proposed regulations describe rules for the elective payment of these credit amounts in a taxable year, including definitions and special rules applicable to partnerships and S corporations and regarding repayment of excessive payments. In addition, the proposed regulations describe rules related to an IRS pre-filing registration process that would be required. These proposed regulations affect tax-exempt organizations, State and local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee Valley Authority, rural electric cooperatives, and, in the case of three of these credits, certain taxpayers eligible to elect the elective payment of credit amounts in a taxable year. This document also provides notice of a public hearing on the proposed regulations. 88 FR 40528 https://www.govinfo.gov/app/details/FR-2023-06-21/2023-12798 2023-12798 fr21jn23-28 RIN 1545-BQ63 4830-01-P REG-101607-23 https://www.govinfo.gov/app/details/FR-2023-06-21/2023-12798 https://www.govinfo.gov/content/pkg/FR-2023-06-21/html/2023-12798.htm https://www.govinfo.gov/content/pkg/FR-2023-06-21/pdf/2023-12798.pdf Income Taxes Reporting and Recordkeeping Requirements Employment Taxes Estate Taxes Excise Taxes Gift Taxes Penalties 31 p. 40528 40558 88 FR 40528 Title 26 Part 1 26 CFR Part 1 Title 26 Part 301 26 CFR Part 301 RIN 1545-BQ63 Section 6417 Elective Payment of Applicable Credits; Federal Register Vol. 88, Issue PRORULE 2023-12798 IV DEPARTMENT OF THE TREASURY Internal Revenue Service 2023-08-14 2023-08-21 REG-101607-23 4830-01-P 2023-12798 Notice of proposed rulemaking and notice of public hearing.

This document contains proposed regulations concerning the election under the Inflation Reduction Act of 2022 to treat the amount of certain tax credits as a payment of Federal income tax. The proposed regulations describe rules for the elective payment of these credit amounts in a taxable year, including definitions and special rules applicable to partnerships and S corporations and regarding repayment of excessive payments. In addition, the proposed regulations describe rules related to an IRS pre-filing registration process that would be required. These proposed regulations affect tax-exempt organizations, State and local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee Valley Authority, rural electric cooperatives, and, in the case of three of these credits, certain taxpayers eligible to elect the elective payment of credit amounts in a taxable year. This document also provides notice of a public hearing on the proposed regulations.

Written or electronic comments must be received by August 14, 2023. The public hearing on these proposed regulations is scheduled to be held on August 21, 2023, at 10 a.m. ET. Requests to speak and outlines of topics to be discussed at the public hearing must be received by August 14, 2023. If no outlines are received by August 14, 2023, the public hearing will be cancelled. Requests to attend the public hearing must be received by 5 p.m. ET on August 17, 2023. The public hearing will be made accessible to people with disabilities. Requests for special assistance during the hearing must be received by August 16, 2023. Concerning the proposed regulations, Jeremy Milton at (202) 317-5665 and James Holmes at (202) 317-5114 (not toll-free numbers); concerning submissions of comments or the public hearing, Vivian Hayes at (202) 317-6901 (not a toll-free number) or by email to publichearings@irs.gov (preferred). Income Taxes Reporting and Recordkeeping Requirements Employment Taxes Estate Taxes Excise Taxes Gift Taxes Penalties Section 6417 Elective Payment of Applicable Credits, publichearings@irs.gov https://www.irs.gov https://www.regulations.gov IRS.gov Vol. 88, no. 118 Office of the Federal Register, National Archives and Records Administration 2023-06-21 continuing daily deposited born digital 689 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2023-06-21 P0b002ee1bf946aa8 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr21jn23 https://www.govinfo.gov/app/details/FR-2023-06-21 https://www.govinfo.gov/content/pkg/FR-2023-06-21/pdf/FR-2023-06-21.pdf https://www.govinfo.gov/content/pkg/FR-2023-06-21/xml/FR-2023-06-21.xml fdlp 39995 40675 DGPO 2023-07-24 2024-05-29 FR-2023-06-21 machine generated eng FR FR-2023-06-21 88 118