Watch: NAFOA Webinar with The Treasury on Pre-Filing Registration Process For Elective Payment
Last month, the Internal Revenue Service (IRS) opened its pre-filing registration portal for elective pay provisions. Pre-filing registration is required for applicable entities and eligible taxpayers to take advantage of elective payment or transfer of credits available in the Inflation Reduction Act (IRA) and the Creating Helpful Incentives to Produce Semiconductor (CHIPS) and Science Act. To help with the implementation of the registration process, NAFOA and the U.S. Department of the Treasury partnered for a webinar on February 5th, 2024. Staff from the Treasury Department presented essential information on what tribes and energy developers need to know. After the presentation, there were audience questions to address any inquiries about the new portal.