IRS announced the launch of the IRS Energy Credits Online pre-filing registration tool for taxpayers who intend to receive a direct payment or transfer a clean energy credit. Established by the Inflation Reduction Act (IRA), Elective Pay (or “direct pay”) and Transferability are credit monetization mechanisms to help states, local governments, non-profits, and other eligible entities access clean energy tax credits. Entities will use IRS Energy Credits Online to complete a required pre-filing registration process and receive a registration number.

The Treasury will host an Elective Pay webinar and provide an overview of the pre-filing registration process. You can register for the event here.