IRS issues guidance for several tax credits

The Treasury and IRS released regulations and guidance for these credits:

• Energy Efficient Home Improvement Credit: New guidance outlines requirements that a manufacturer of specified property must follow to be treated as a qualified manufacturer.
• Advanced manufacturing investment credit: Final rules offer guidance on how to implement the Advanced Manufacturing Investment Credit, which was created by the CHIPS Act of 2022. The final regulations include eligibility requirements and provide clarity on the amended investment credit recapture provisions.
• Sustainable Aviation Fuel Credit: New Notice 2024-74 for the Sustainable Aviation Fuel credit was created by the Inflation Reduction Act.