Applicable Entities

Applicable entities as defined under section 6417(d)(1)(A) that generally don’t benefit from income tax credits can elect to treat the business credit under sections 48C, 48E, and 48 as a payment of income tax. Resulting overpayments may result in refunds.

• Form 990-T, Exempt Organization Business Income Tax Return or other applicable tax return.

For a discussion of what is an applicable entity, see Applicable entity making an EPE on IRA 2022 credits in the Instructions for Form 3800. For more information on elective payment elections under section 6417, see Elective Payment of Certain Business Credits Under Section 6417 or Section 48D in the Instructions for Form 3800.