The IRS finalized rules for the advanced manufacturing production tax credit Thursday detailing what qualifies for the credit.
The regulations ([REG-107423-23, RIN 1545-BQ85) finalize proposed rules issued in December 2023 and provide additional details on credit amounts and what qualifies for the credit under Section 45X.
The tax credit—one of many the Treasury and IRS are working to finalize—was established by the 2022 tax-and-climate law, known as the Inflation Reduction Act.
The December proposed rules quickly met with criticism from some members of Congress who had hoped to see more restrictions on tax credit eligibility for companies …
