News & Analysis as of

U.S. Treasury Investment Tax Credits

Cadwalader, Wickersham & Taft LLP

Charging Ahead or Stalling Out? Clean Energy Credits Await Key Guidance

The Inflation Reduction Act of 2022 (the “IRA”) allows firms to develop and sell clean energy tax credits. In our last update, available here, we discussed the release of the long-awaited guidance package on the new...more

Baker Botts L.L.P.

Proposed Regulations Regarding Section 48E Clean Electricity Low-Income Communities Bonus Credit Program

Baker Botts L.L.P. on

On September 3, 2024, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) published proposed regulations relating to the Clean Electricity Low-Income Communities Bonus Credit Program (the...more

Pierce Atwood LLP

Will Treasury Use Energy Tax Credits to Assist PFAS-Impacted Communities?

Pierce Atwood LLP on

Proposed tax regulations to be released this year may clarify whether agricultural land contaminated with per- and polyfluoroalkyl substances (PFAS) qualify for a federal tax credit that would incentivize renewable energy...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Proposed Regulations for Low-Income Communities Bonus Program Under Section 48E

On August 30, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a notice of proposed rulemaking (the Proposed Regulations) regarding the new clean electricity low-income...more

Holland & Knight LLP

Eyes on Energy Tax Update: Second Quarter 2024

Holland & Knight LLP on

Eyes on Energy Tax Update is a regular publication of the Holland & Knight Renewable and Alternative Energy Tax Team that provides highlights of important developments. The Renewable and Alternative Energy Tax Team also...more

Vinson & Elkins LLP

Energy Makers Find Limited Answers in Bonus Tax Credit Guidance

Vinson & Elkins LLP on

The domestic content bonus is one of the Inflation Reduction Act’s most powerful tax incentives, but so far is proving to be one of the most difficult to earn. The Treasury Department and IRS released Notice...more

Vinson & Elkins LLP

The Very Timely PWA Requirements Finalized

Vinson & Elkins LLP on

On June 18, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 9998) (the “Final Regulations”) regarding compliance with the prevailing wage...more

Wilson Sonsini Goodrich & Rosati

Claiming Tech-Neutral Clean Electricity Production and Investment Tax Credits Under the Inflation Reduction Act

On May 29, 2024, the U.S. Department of the Treasury and the Internal Revenue Service released long anticipated Proposed Regulations regarding clean electricity production tax credits and clean electricity investment tax...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury and IRS Issue Proposed Regulations Regarding the Clean Energy Production and Clean Electricity Investment Credits Under...

The proposed regulations provide the initial guidance for new tax credits that go into effect in 2025 for clean electricity facilities using various technologies that achieve net-zero greenhouse gas (GHG) emissions. Under...more

Mayer Brown

Final Regulations Issued on Prevailing Wage and Apprenticeship Requirements under the Inflation Reduction Act

Mayer Brown on

On June 18, 2024, the US Internal Revenue Service (“IRS”) and Department of the Treasury (“Treasury”) issued final regulations (“Final Regulations”) establishing rules for taxpayers intending to satisfy the prevailing wage...more

Holland & Knight LLP

The Technology-Neutral Sections 45Y PTC and 48E ITC Are Coming

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on May 29, 2024, issued proposed regulations under the new Internal Revenue Code (Code) Section 45Y Clean Electricity Production Tax Credit (PTC) and Section 48E Clean Electricity...more

Troutman Pepper

Treasury and IRS Release Updated Guidance on Energy Communities

Troutman Pepper on

On June 7, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-48. This notice includes lists of information that taxpayers may use to determine whether they meet certain requirements...more

Husch Blackwell LLP

New Treasury Guidance Silent on Biomass Electricity Credits

Husch Blackwell LLP on

On May 29, 2024, the U.S. Treasury Department and the Internal Revenue Service issued a notice of proposed rulemaking (“NPRM”) that includes guidance on two of the Inflation Reduction Act of 2022’s renewable electricity tax...more

Vinson & Elkins LLP

Treasury Releases Proposed Regulations on Tech-Neutral PTC and ITC

Vinson & Elkins LLP on

On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production...more

Jones Day

Proposed Treasury Regulations Provide Guidance on New Clean Electricity Production and Investment Tax Credits

Jones Day on

The Department of Treasury and the Internal Revenue Service released newly proposed regulations regarding the clean electricity production and investment tax credits....more

Akin Gump Strauss Hauer & Feld LLP

IRS Issues Proposed Rules on New Tech-Neutral Clean Energy PTC and ITC

On May 29, 2024, the Internal Revenue Service (IRS) and the Department of Treasury issued proposed regulations (REG-119283-23) addressing the new technology neutral clean electricity production tax credit (PTC) in section 45Y...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Treasury, Internal Revenue Service Issue Final Regulations for Transfer of Energy Credits

On April 25, 2024, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations regarding the transfer of energy tax credits under the Inflation Reduction Act of 2022 (IRA)....more

Cadwalader, Wickersham & Taft LLP

Final Rules on Energy Tax Credit Sales Confirm All Systems Go

The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits.  In our last update, we discussed how the emerging market for tax insurance may provide comfort to prospective...more

Troutman Pepper

Treasury and IRS Issue Additional Domestic Content Guidance Under IRA and New Elective Safe Harbor

Troutman Pepper on

On May 16, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-41, which modifies Notice 2023-38 (Prior Guidance) by expanding the list of Applicable Projects (defined below) to...more

Pierce Atwood LLP

Energy Tax Credits – Final Regulations on Transferability and Guidance on Domestic Content

Pierce Atwood LLP on

The Treasury Department and IRS recently issued final regulations on the transfer of certain credits to implement the transferability provisions of the Inflation Reduction Act (IRA), which take effect on July 1, 2024....more

Stoel Rives LLP

Treasury Provides New Safe Harbor for Domestic Content Bonus Credit

Stoel Rives LLP on

The U.S. Department of the Treasury (Treasury) today released Notice 2024-41, Domestic Content Bonus Credit Amounts under the Inflation Reduction Act of 2022: Expansion of Applicable Projects for Safe Harbor in Notice 2023-38...more

Womble Bond Dickinson

IRS Publishes Final Regulations for Transfer of Certain Credits

Womble Bond Dickinson on

The Inflation Reduction Act of 2022 added Section 6418 to the Internal Revenue Code (the “Code”) to allow taxpayers to sell certain Federal income tax credits....more

Troutman Pepper

IRS Issues Final Regulations on Tax Credit Transfers

Troutman Pepper on

On April 25, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on tax credit transfers pursuant to Section 6418 of the Internal Revenue Code of 1986, as...more

BakerHostetler

Monetizing Renewable Credits Part II - Final Regulations on Transfers of Renewable Credits

BakerHostetler on

As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits and enacted under § 6418 an election that allows eligible taxpayers...more

Foley & Lardner LLP

IRS Releases Final Tax Credit Sale Regulations

Foley & Lardner LLP on

Late last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released final regulations relating to transfers of certain tax credits pursuant to Section 6418 of the Code (the “Code” and, such rules, the...more

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