Advanced Manufacturing Production Credit

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Internal Revenue Service 26 CFR Part 1 [TD 10010] RIN 1545-BQ85 AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final rule. SUMMARY: 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. DATES: Effective date: These regulations are effective December 27, 2024. Applicability date: For date of applicability, see §§ 1.45X-1(j), 1.45X-2(f), 1.45X-3(g), and 1.45X-4(d). FOR FURTHER INFORMATION CONTACT: Mindy Chou, John Deininger, Derek Gimbel, or Alexander Scott at (202) 317-6853 (not a toll-free number). SUPPLEMENTARY INFORMATION: Authority This document contains final regulations (final regulations) that amend the Income Tax Regulations ( 26 CFR part 1 ) to implement the statutory provisions of section 45X of the Internal Revenue Code (Code). The final regulations are issued by …