Data / Federal rules / 2024-04605
Elective Payment of Advanced Manufacturing Investment Credit
The Internal Revenue Service published this final rule in the Federal Register on March 11, 2024. It took effect on May 10, 2024.
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What the agency says
This document contains final regulations concerning the elective payment election of the advanced manufacturing investment credit under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act of 2022. The regulations describe rules for the elective payment election, including special rules applicable to partnerships and S corporations, repayment of excessive payments, basis reduction and recapture, and the IRS pre-filing registration process that taxpayers wanting to make the elective payment election are required to follow. These final regulations affect taxpayers eligible to make the elective payment election of the advanced manufacturing investment tax credit in a taxable year. This document also removes temporary regulations published on June 21, 2023 in the Federal Register.
Key facts
- Document number
- 2024-04605
- Type
- Final rule
- Action
- Final regulations and removal of temporary regulations
- Agency
- Treasury Department; Internal Revenue Service
- Published
- March 11, 2024
- Takes effect
- May 10, 2024
- Dates
- Effective date: These regulations are effective May 10, 2024.
- Docket
- TD 9989
- Regulation ID (RIN)
- 1545-BQ75
- Code of Federal Regulations
- 26 CFR 1
- Topics
- Income taxes; Reporting and recordkeeping requirements
- Pages
- 17
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Everything from the Internal Revenue Service · Rules on income taxes · Rules on reporting and recordkeeping requirements · Published in March 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.