IRS TO ALLOW NON-PROFITS TO DECLARE CERTAIN ENERGY CREDITS FOR REFUNDS

Applicable entity eligibility
Applicable entities can use elective pay. Applicable entities include:

  • Tax-exempt organizations such as public charities, private foundations, social welfare organizations, labor organizations, business leagues and others

  • States and political subdivisions such as local governments or Indian tribal governments

  • U.S. territories and their political subdivisions

  • Agencies and instrumentalities of state, local, tribal and U.S. territorial governments

  • Alaska Native corporations

  • The Tennessee Valley Authority

  • Rural electric cooperatives How to receive the elective payment
    For an eligible entity to receive an elective payment, they need to take the following steps:

    1. Identify the project or activity they are pursuing and satisfy all requirements for the applicable credit.

  • Determine the correct tax year, which determines the due date of the tax return.

  • Complete the pre-filing registration process with the IRS. More information about this process will be available later in 2023.
    After the pre-filing registration process is complete and the requirements for the applicable credit have been satisfied, the eligible entity can claim and receive an elective payment by choosing the election on their annual tax return along with any form required to claim the relevant tax credit.

    Applicable entities need their own Employee Identification Number (EIN) or Tax Identification Number (TIN) to complete the pre-filing registration process. Applicable entities that don’t otherwise have a filing requirement cannot use or borrow the EIN of a related entity.
    Eligible credits:

    • Production Tax Credit for Electricity from Renewables

  • Clean Electricity Production Tax Credit

  • Investment Tax Credit for Energy Property

  • Clean Electricity Investment Tax Credit

  • Low-Income Communities Bonus Credit

  • Credit for Carbon Oxide Sequestration

  • Zero-Emission Nuclear Power Production Credit

  • Advanced Energy Project Credit

  • Advanced Manufacturing Production Credit

  • Credit for Qualified Commercial Clean Vehicles

  • Alternative Fuel Vehicle Refueling Property Credit

  • Clean Hydrogen Production Tax Credit

  • Clean Fuel Production Credit
    More information:
    Elective Pay Overview, Publication 5817
    Elective Pay Clean Energy Credits, Publication 5817-G

Procter & Gamble pays visit to VOG

On Wednesday, Aug. 9, 2023, a team from Procter & Gamble corporate office, Cincinnati, Ohio, paid a visit to Veterans Off-Grid. While the purpose of the visit was to obtain information about environmentally sound products that could be produced for homesteaders and those living off grid, the team spent a large part of their visit touring the property and asking questions about the variety of sustainable buildings at VOG.

The entire team was impressed by the work here and by our commitment to assisting veterans in need.

 

A team from Procter & Gamble visits VOG

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