IRS Begs Comments on Coal Tax Credits – 2025 Flashback?
Published Date: 3/20/2025
Notice
Summary
The IRS is asking businesses involved in advanced coal projects to share their thoughts on updated rules for getting tax credits under the Sec. 48A Phase III Program. This update kicks off Round 3 of applications, with a deadline to comment by May 19, 2025. If you’re a business applying, expect to spend about 110 hours on paperwork, but these credits could mean big savings!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Significant application paperwork burden
Businesses applying for Round 3 should expect to spend about 110 hours completing the IRS information collection; the IRS estimates 5 responses and a total annual burden of 550 hours.
Round 3 opens for Sec. 48A credits
Round 3 of the Section 48A Phase III Qualifying Advanced Coal Project Program has begun. To be considered in Round 3, businesses must submit an Application for DOE Certification to the Department of Energy and an Application for Sec. 48A Certification to the IRS.
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