e-News for Tax Professionals 2023-22

1. Tax pros: Choose from 45 timely seminars at the 2023 IRS Nationwide Tax Forums; earn up to 18 CE credits during historic period for the tax community

The IRS this week released the seminar lineup for the 2023 Nationwide Tax Forums, providing tax professionals with multiple opportunities to learn more about changes to tax law and IRS transformation efforts. The 2023 tax forums encompass an ambitious program during an historic time for the tax community. They offer more than 40 seminars for which tax pros can earn up to 18 continuing education (CE) credits.

Each forum is a three-day session that will be held in one of five cities:

New Orleans: July 11-13
Atlanta: July 25-27
Washington, D.C. area: Aug. 8-10
San Diego: Aug. 22-24
Orlando: Aug. 29-31

Attendees who register by June 15 can take advantage of the low early bird rate of $245 per person. Standard pricing begins on June 15 and ends two weeks before the start of each forum. For more information and to register, visit the IRS Nationwide Tax Forum website.

2. U.S. taxpayers living, working abroad must file their 2022 tax returns by June 15

Tax pros, if you have American clients living and working outside of the U.S., remind them that they must file their 2022 federal income tax return by June 15. This deadline applies to both U.S. citizens and resident aliens abroad, including those with dual citizenship. Taxpayers who can't meet the June 15 due date can request an automatic six-month extension by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. This news release is also available in Spanish and Simplified Chinese.

3. Treasury, IRS provide proposed rules on energy projects for low-income communities; submit comments by June 30

The Department of the Treasury and the IRS recently issued proposed regulations for applicants investing in certain solar and wind-powered electricity generation facilities. The IRS released Notice 2023-17 on Feb. 13 to establish the Low-Income Communities Bonus Credit Program, which provided initial guidance for potential applicants seeking allocations of calendar year 2023 environmental justice solar and wind capacity limitation. The proposed regulations request comments by June 30, 2023, on certain definitions and requirements that the Treasury and IRS are considering including in the upcoming program guidance.

4. IRS provides additional guidance for advanced energy projects

The Department of the Treasury and the IRS issued Notice 2023-44 to provide more details for applicants seeking section 48C credit allocations in the qualifying advanced energy project credit allocation program under the Inflation Reduction Act. See additional information below in the Technical Guidance.

5. Technical Guidance

Notice 2023-44 updates the earlier version of Appendix A (defining qualifying advance energy projects) with clearer definitions and examples and updates the earlier version of Appendix B (providing the Department of Energy (DOE) application process) by adding technical review criteria and application content requirements. This notice also provides the process for submitting concept papers and joint applications for DOE recommendations and for IRS section 48C(e) certifications and clarifies the selection criteria used to evaluate whether a project merits a DOE recommendation.

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