Pre-filing Registration Tool for Businesses Transferring Credits

IRA and CHIPS enable taxpayers to take advantage of certain manufacturing investment, clean energy investment and production tax credits through elective pay or transfer provisions. A taxpayer who intends to make an elective payment or credit transfer election must complete the pre-file registration process to receive a registration number. The registration number must be included on the taxpayer’s annual return as part of making a valid election. To pre-file, use the IRA/CHIPS Prefiling Registration tool. #IdeaoftheDay