What is the authenticity of the Hadith narrated from Ali ibn Abi Talib, may Allah be pleased with him, which mentions the virtues of the Tarawih prayer on each night of Ramadan?

This Hadith has no basis and is a fabrication against the Prophet, peace and blessings be upon him. It contains signs of fabrication that have been clarified by the scholars. It is not permissible to mention it except to clarify that it is a fabrication. The Prophet's saying, "Whoever stands (in prayer) during Ramadan with faith and expecting Allah’s reward, all his past sins will be forgiven," suffices regarding the virtue of Tarawih prayer.