Energy credit award disclosures should follow certification

Plain-English summary

Chief Counsel advised when the IRS should disclose recipients of credits under sections 48A, 48B, and 48C. For sections 48A and 48C, the applicant's identity and credit amount should be disclosed after the IRS issues the certification letter. Because section 48B uses a one-step allocation process, disclosure should occur when the credit is allocated. The statutes specify timing but not the disclosure method, so the responsible Chief Counsel office would choose the method case by case, with recent awards to be published in the Internal Revenue Bulletin.

Ruling snapshot

• Question: When and how should the IRS disclose certified recipients and amounts for sections 48A, 48B, and 48C credits?
• Outcome: Advice given.
• Key authorities: IRC §§ 48A, 48B, and 48C.

Full text (IRS public release)

ID: CCA_2016072215203112
UILC: 48A.00-00, 48B.00-00, 48C.00-00

Number: 201643023
Release Date: 10/21/2016
From:
Sent: Friday, July 22, 2016 3:20:31 PM
To:
Cc:

Bcc:
Subject: Sections 48A and 48C

Hi -----------,

This responds to your recent inquiry concerning the timing of future disclosures under
§§ 48A and 48C. Both statutes require disclosure of certified awardees after the two or
one year period for certification. Accordingly, we recommend that the public disclosure
of the certified applicant’s identity and credit amount occur after the IRS’ certification
letter is issued. On a related matter, the certification of § 48B credits is a one-step
process that only involves the allocation of § 48B credits. Therefore, we recommend
disclosing the identity of applicants and the amount of the credit certified at the time of
the allocation.

With respect to all three credits, the statutes address “when” but not “how” the
disclosures must be made. CC:PSI will determine how best to disclose these certified
awardees on a case-by-case basis.

We understand that LB&I/NRC recently certified credit awardees under the §§ 48A and
48B programs. With respect to these instances, P&SI and OTP will disclose the
required information by publication in the Internal Revenue Bulletin.

Please contact me, ---------------------------or ----------------------if you have any additional
questions.

Thank you,