On Wednesday, January 17, the US Department of Treasury will host an Elective Pay webinar and provide an overview of the pre-filing registration process. The webinar will cover how to complete a required pre-filing registration to receive a registration number, and then how to use the number on the tax return when making an elective payment or transfer election for a clean energy credit.

Register ahead for this upcoming webinar.

Background: The IRS recently announced the launch of the IRS Energy Credits Online pre-filing registration tool for taxpayers who intend to receive a direct payment or transfer a clean energy credit. Established by the Inflation Reduction Act (IRA), Elective Pay (or “direct pay”) and Transferability are credit monetization mechanisms to help states, local governments, non-profits, and other eligible entities access clean energy tax credits. These rules and information expand on the proposed Elective Pay and Transferability guidance issued by Treasury earlier in 2023, which can be found here and here.  You can also find helpful information on CleanEnergy.gov/directpay