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
The Internal Revenue Service (“IRS”) and Department of the Treasury earlier this week released final regulations relating to direct cash payments for certain tax credits pursuant to Section 6417 of the Internal Revenue Code...more
Last week, the Internal Revenue Service (“IRS”) and Department of the Treasury published proposed regulations (the “Proposed Regulations”) relating to the tax credit for production of clean hydrogen under Section 45V of the...more
12/29/2023
/ Anti-Abuse Rule ,
Apprenticeships ,
Compliance ,
Department of Energy (DOE) ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Internal Revenue Code (IRC) ,
IRS ,
Low Carbon Fuel Standard ,
Prevailing Wages ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Fuel Standard ,
U.S. Treasury ,
Verification Requirements
Earlier this month, the Internal Revenue Service (“IRS”) and Department of the Treasury released proposed regulations (the “Proposed Regulations”) relating to the advanced manufacturing tax credit under Section 45X of the...more
The Internal Revenue Service on Friday opened the registration portal for taxpayers selling eligible tax credits, including investment tax credits and production tax credits. The portal also permits tax-exempt and other...more
The Internal Revenue Service today released much anticipated proposed regulations with respect to the Section 45V tax credit for the production of clean hydrogen, which we expect will generate significant comments. The Foley...more
Late last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released the long-awaited proposed regulations (the “Proposed Regulations”) relating to investment tax credits under Section 48 of the Code...more
11/21/2023
/ Apprenticeships ,
Batteries ,
Energy Storage ,
Geothermal Energy ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Production Tax Credit ,
Proposed Regulation ,
Reporting Requirements ,
Solar Energy
The Internal Revenue Service (IRS) and Department of the Treasury earlier this month released final regulations (the “Low-Income Community Bonus Credit Rules”) relating to the low-income community bonus credit pursuant to...more
The Internal Revenue Service (“IRS”) and Department of the Treasury earlier this week released extensive proposed regulations relating to direct cash payments for certain tax credits pursuant to Section 6417 of the Internal...more
On May 12, 2023, the IRS and the Department of the Treasury issued highly anticipated guidance regarding the requirements to satisfy the domestic content bonus tax credit provisions for investment tax credits under Sections...more
On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2023-29 (the “Notice”) providing a high-level overview of the rules they intend to include in...more
4/5/2023
/ ASTM ,
Brownfield Properties ,
CERCLA ,
Coal Industry ,
Energy Information Association (EIA) ,
Energy Sector ,
Environmental Site Assessment ,
Fossil Fuel ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Proposed Regulation ,
Tax Revenues ,
U.S. Treasury
The passage of the Inflation Reduction Act (IRA) in August of last year saw the introduction of a number of new and expanded tax credits aimed at boosting onshore American manufacturing. These incentives represent...more
The Internal Revenue Service (IRS) recently released guidance regarding the changes to the Plug-In Electric Drive Vehicle Credit (EV Credit) under Section 30D of the Internal Revenue Code (Code), which was most recently...more
On February 13, 2023, the Department of Treasury and the Internal Revenue Service released Notice 2023-17, providing a high-level overview of the program to be established under Section 48(e) of the Internal Revenue Code (the...more
On November 30, 2022, the Department of the Treasury and the Internal Revenue Service published Notice 2022-61 (the “Guidance”) describing how to satisfy certain prevailing wage and apprenticeship requirements (the “PWA...more
The passage of the Inflation Reduction Act (IRA) this past August saw the introduction of a number of new and expanded tax credits aimed at onshoring American manufacturing...more
10/27/2022
/ Biden Administration ,
Energy Projects ,
Energy Tax Incentives ,
Executive Orders ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Manufacturers ,
Production Tax Credit ,
Renewable Energy ,
U.S. Treasury
After expiring at the end of 2021, the Internal Revenue Code Section 30C tax credit for electric vehicle charging stations is back. Technically referred to as the “Alternative Fuel Vehicle Refueling Property Credit,” the...more
On August 12, 2022, the House of Representatives passed the Inflation Reduction Act of 2022 (the “Act”), which the Senate passed on August 7, 2022. President Biden has indicated that he will sign the Act into law....more