 Internal Revenue Service, IRS tax news, IRS issues guidance on eligibility requirement for energy communities for the bonus credit program under the Inflation Reduction Act. The Inflation Reduction Act and Energy Communities. Wow! The IRS must be putting a lot of energy into like reducing inflation with this Inflation Reduction Act. Oh wait, no, no, the IRS wants you to stop putting energy into stuff as they continue increasing inflation with massive spending. No, okay Phil, maybe they actually tried to title the bill Energy Reduction Act instead of Inflation Reduction Act but they misspelled it and then the spellchecker replaced it with the wrong word inflation instead of energy for the Energy Reduction Act. It got changed accidentally to the Inflation Reduction Act and that's how we got the misleading title of Inflation Reduction Act. It was just an honest mistake but then they had to run with it so people don't think they can't spell or proof read or you spell check or anything. No, okay, okay, I'm sure Phil. It was just an honest mistake, right? I mean, give me a freaking break. No, no, Phil. No, Phil. Honestly, I told you once, I told you a thousand times when I say give me a break. It doesn't mean I want a piece of your rainbow Kit Kat bar for crying out loud. The point here is the idea of an honest mistake is ridiculous. That's the point, Phil. It's ridiculous. I mean, that's like, that's like believing the Chinese just accidentally released that spy balloon that happened to be doing figure eights over our military facilities. I mean, that's, that's like believing that quote the big guy in quote needing 10% is actually referring to the IRS because they wanted to make sure that they paid their fair share of taxes. I mean, that's like believing Nancy Pelosi doesn't want rules prohibiting members of Congress from trading individual stocks while in office because she's concerned it will negatively impact the fairness of the free market economy. It just so happens she seems to be accidentally benefiting from it. I mean, for, for the love of God, Phil, you need, you really need to stop watching Tik Tok. I'm telling you, you got, you got to stop watching Tik Tok. IR2023-69 April 4th, 2023 Washington. The Internal Revenue Service today issued notice 2023-29. There's a link to that here that describes certain rules that the IRS intends to include in forthcoming proposed regulations for determining what constitutes an energy community for the production and investment tax credits. The Inflation Reduction Act allows for increased credit amounts if certain requirements pertaining to energy communities are satisfied. There are three categories of energy communities. We got the brownfield sites, certain metropolitan statistical areas and the non-metropolitan statistical areas based on unemployment rates, MSA slash non-MSA and census tracts were a coal mine closed after 1999 or were a coal fired electric generating unit was retired after 2009 and directly adjoining census tracts. So the increased credit amount available for meeting the requirements of the energy community provisions is generally 10% for the production tax credit and up to 10% points for the investment tax credit. For more information, you can be found at the Inflation Reduction Act 2022 page on irs.gov. Appendancy is related to notice 2023-29. You got Appendance A, B and C appendixes that you can take a look at. There's links to those items here. If you want to dive in in more detail, there'll be a link to this in the description.