Did your organization place any clean energy projects into service in 2024? Did you purchase any electric vehicles? Tax exempt entities can claim tax credits that cover 30-70% of project costs for these activities via Elective Pay (also known as Direct Pay). If your organization’s tax year mirrors the calendar year, its 2024 tax return is due May 15. Pre-filing registration needs to take place as soon as possible, to ensure you receive the necessary project ID numbers to be able to complete the return. Extensive resources that can help you identify your tax year and file can be found here.
Some steps you can take to make sure you don’t miss out on your reimbursement:
- Check out the Clean Energy Tax Navigator on the WA Clean Energy Tax Credit Assistance Program (CETCAP) resource hub to see if your organization and project(s) and/or EV purchase(s) qualify.
- Is your organization an eligible entity that has eligible 2024 projects? You can:
- Start working your way through the Direct Pay Documentation Checklist here.
- Take advantage of FREE technical assistance from Lawyers for Good Government and/or work directly with Giraffe accounting firm that will help you prepare and submit your prefiling registration and e-file your tax forms.
- Not ready to file by May 15? CETCAP can help you file for a 6-month extension with the IRA.
Reach out to us with any questions to our partners at L4GG at minho@lawyersforgoodgovernment.org.