The IRS Released Notice 2024-49 on May 31, 2024, Providing Updated Guidance for Taxpayers Seeking to Claim the Clean Fuel Production Credit Under Section 45Z.
July 1, 2024
Section 45Z provides that only registered production is eligible to generate § 45Z clean fuel production credits (“CFPCs”). The new guidance outlines how an eligible taxpayer can register under § 4101 and receive timely approval of its registration application in order to claim CFPCs for the production and sale of clean transportation fuels commencing January 1, 2025
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