{"abstract":"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.","action":"Final regulations and removal of temporary regulations.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2024/03/11/2024-04605.html","cfr_references":[{"chapter":null,"citation_url":null,"part":1,"title":26}],"citation":"89 FR 17596","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: These regulations are effective May 10, 2024.","disposition_notes":null,"docket_ids":["TD 9989"],"dockets":[{"supporting_documents":[{"title":"Agenda - REG-105595-23 (Participants)","document_id":"IRS-2023-0027-0017"}],"agency_name":"IRS","documents":[{"comment_count":0,"comment_start_date":"2024-03-11","updated_at":"2024-09-03T17:06:00.356-04:00","comment_url":"https://www.regulations.gov/commenton/IRS-2023-0027-0019","allow_late_comments":false,"id":"IRS-2023-0027-0019","comment_end_date":null,"regulations_dot_gov_open_for_comment":false}],"supporting_documents_count":1,"id":"IRS-2023-0027","title":"Elective Payment of Advanced Manufacturing Investment Credit (REG-105595-23)"}],"document_number":"2024-04605","effective_on":"2024-05-10","end_page":17612,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2024/03/11/2024-04605.xml","html_url":"https://www.federalregister.gov/documents/2024/03/11/2024-04605/elective-payment-of-advanced-manufacturing-investment-credit","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2024-04605?publication_date=2024-03-11","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2024-03-11/2024-04605/mods.xml","not_received_for_publication":null,"page_length":17,"page_views":{"count":1840,"last_updated":"2026-04-04 18:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-03-11/pdf/2024-04605.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-04605.pdf?1709646316","publication_date":"2024-03-11","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2024/03/11/2024-04605.txt","regulation_id_number_info":{"1545-BQ75":{"issue":"202310","html_url":"https://www.federalregister.gov/regulations/1545-BQ75/elective-payment-of-advanced-manufacturing-investment-credit-","title":"Elective Payment of Advanced Manufacturing Investment Credit ","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202310&RIN=1545-BQ75&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1545-BQ75"],"regulations_dot_gov_info":{"supporting_documents":[{"title":"Agenda - REG-105595-23 (Participants)","document_id":"IRS-2023-0027-0017"}],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1545-BQ75/elective-payment-of-advanced-manufacturing-investment-credit-","title":"Elective Payment of Advanced Manufacturing Investment Credit "},"comments_count":0,"agency_id":"IRS","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=IRS-2023-0027","supporting_documents_count":1,"docket_id":"IRS-2023-0027","document_id":"IRS-2023-0027-0019","regulation_id_number":"1545-BQ75","title":"Elective Payment of Advanced Manufacturing Investment Credit (REG-105595-23)","checked_regulationsdotgov_at":"2024-06-15T14:00:08Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":17596,"subtype":null,"title":"Elective Payment of Advanced Manufacturing Investment Credit","toc_doc":"Elective Payment of Advanced Manufacturing Investment Credit","toc_subject":null,"topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Rule","volume":89}