Does your company, nonprofit or government entity want to take advantage of elective pay options that were made available under the Inflation Reduction Act and the CHIPS Act? If so, it generally needs to complete the pre-filing registration process at least 120 days before filing a tax return. The elective pay option may make sense if you’ve earned clean energy or manufacturing investment credits but can’t use them to offset your tax liability. You need to pre-file to receive a registration number to include with your tax return. Although electronic filing isn’t required, the IRS urges taxpayers to use a recommended e-file provider. For more information: https://bit.ly/3ArBLpw
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