The Treasury Department and IRS have released guidance detailing the process for taxpayers to request an emissions value from the DOE. This step is essential for petitioning the Secretary of the Treasury for a provisional emissions rate (PER) as part of the proposed 45V regulations issued on December 26, 2023. The guidance provides additional details on the procedures for taxpayers to follow in petitioning for a PER and specifically addresses how to request an emissions value from the DOE. Feedback is currently being solicited on this emissions value request process to refine and ensure its effectiveness.
The comment period closes May 13th.