On May 16, 2024, the IRS released Notice 2024-41, which modifies the previously issued Notice 2023-38, to provide a new safe harbor for qualifying for the “domestic content” addition to the federal production or investment...more
On April 25, 2024, the IRS and US Treasury Department issued the final regulations under Section 6418 of the Code, the provision that allows sales of certain tax credits, including credits for renewable energy production and...more
On Wednesday, June 14, 2023, the Internal Revenue Service (IRS) and U.S. Department of Treasury (Treasury) issued proposed Treasury Regulations on the elective payment of certain tax credits (also known as direct pay) under...more
6/20/2023
/ Energy Projects ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Regulation ,
Renewable Energy ,
S-Corporation ,
Tax Credits ,
Tax Exemptions ,
Tax Liability ,
Tax Returns ,
U.S. Treasury
Today, the President signed the Inflation Reduction Act (the “Act”), a broad bill that targets health care costs, taxes for large companies, overall deficit reduction, and climate change, into law. The law includes many...more
In response to continuing delays caused by the Covid-19 pandemic, the IRS issued Notice 2021-41 (the “Notice”) on June 29, 2021. The Notice provides relief for renewable energy projects that began construction between 2016...more
As the 117th Congress works to enact legislation implementing President Biden’s “Build Back Better Recovery Plan,” extending and expanding current renewable energy tax incentives will be an integral part of the discussion....more
4/1/2021
/ Biden Administration ,
Carbon Capture and Sequestration ,
Energy Projects ,
Energy Sector ,
Investment ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Tax Equity
On December 21, 2020, Congress passed a series of energy tax credit extenders and additions as part of the omnibus spending and coronavirus relief bill. The bill has not yet been signed by President Trump....more
In Notice 2020-41, issued May 27, 2020, the IRS extended the deadline for certain time-sensitive actions with respect to qualifying renewable energy projects for production tax credits (PTCs) and investment tax credits...more