IR-2023-253: Treasury, IRS request public comments on product identification number requirement to claim the Energy Efficient Home Improvement Credit

IRS Newswire December 29, 2023
News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom Topics Multimedia Center Noticias en Español Radio PSAs Tax Scams The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News Home IRS Resources Contact My Local Office Filing Options Forms & Instructions Frequently Asked Questions News Taxpayer Advocate Where to File IRS Social Media	Issue Number:    IR-2023-253 Inside This Issue Treasury, IRS request public comments on product identification number requirement to claim the Energy Efficient Home Improvement Credit IR-2023-253, Dec. 29, 2023 WASHINGTON — The Department of the Treasury and the Internal Revenue Service issued Notice 2024-13 announcing that the IRS intends to propose regulations to implement the product identification number (PIN) requirement with respect to the energy efficient home improvement credit. Beginning Jan. 1, 2023, the energy efficient home improvement credit allows for a credit, subject to certain limitations and caps, equal to 30% of the total amount paid by the taxpayer for certain qualified expenditures, including: Qualified energy efficiency improvements installed during the year, Residential energy property expenditures during the year, and Home energy audits during the year. The credit is allowed for qualifying property placed in service on or after Jan.1, 2023, and before Jan. 1, 2033. Beginning on Jan. 1, 2025, taxpayers claiming the credit must also satisfy the PIN requirement for certain categories of products. Under this requirement, an item will only qualify for the energy efficient home improvement credit if the item is produced by a qualified manufacturer, and if the taxpayer includes the qualified PIN of the item on their tax return. Notice 2024-13 requests comments on a number of general and specific questions relating to this PIN requirement and also outlines a PIN assignment system that the IRS is considering. Any comments received will assist in the development of the proposed regulations to implement the PIN requirement. Written comments should be submitted by Feb. 27, 2024. Consideration will be given to any written comment received after Feb. 27, 2024, if the consideration will not delay the issuance of guidance. More information about IRA guidance may be found on the Inflation Reduction Act of 2022 webpage. Back to Top         Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.

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