The domestic content bonus credit (the DC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy and storage projects constructed with sufficient...more
5/30/2023
/ Applications ,
Department of Energy (DOE) ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Production Tax Credit ,
Safe Harbors ,
Steel Industry ,
Tax Credits ,
U.S. Treasury
The energy community bonus credit (the EC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides a bonus credit for projects located in Energy Communities. The EC Bonus is available for...more
The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy projects located in designated low-income...more
4/12/2023
/ Affordable Housing ,
Department of Energy (DOE) ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Low Income Housing ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
U.S. Treasury
On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage requirements (the Prevailing Wage...more
12/5/2022
/ Carbon Capture and Sequestration ,
Clean Energy ,
Construction Industry ,
Energy Tax Incentives ,
Federal Register ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Interim Guidance ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Prevailing Wages ,
Production Tax Credit ,
Recordkeeping Requirements ,
U.S. Treasury
On Tuesday, August 16, President Biden signed the Inflation Reduction Act of 2022 (the Act) into law, which includes material changes to various sections of the Internal Revenue Code of 1986, as amended (the Code). The...more
8/19/2022
/ Corporate Taxes ,
Energy Tax Incentives ,
Excise Tax ,
Financial Statements ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Popular ,
Prevailing Wages ,
Production Tax Credit
On December 22, 2020, the U.S. House and Senate approved the Consolidated Appropriations Act, 2021 (the 2021 Act) and, on December 27, 2020, President Trump signed the 2021 Act into law. The 2021 Act extends tax credits...more
1/7/2021
/ Carbon Taxes ,
Consolidated Appropriations Act (CAA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Navigable Waters ,
Offshore Wind ,
Production Tax Credit ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
Wind Power
On May 7, 2020, in response to a letter from a consortium of U.S. Senators dated April 23, 2020 (the Senate Letter), the Treasury Department stated that it intends to modify rules related to the Continuity Safe Harbor (as...more
The Bracewell Tax Report is a periodic publication focused on developments in federal income tax law, including the recently enacted Tax Cuts and Jobs Act, with emphasis on how such developments impact the energy, technology...more
11/7/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Energy Projects ,
Investment Tax Credits ,
Investors ,
IRS ,
Low-Income Issues ,
Opportunity Zones ,
Partnerships ,
Proposed Regulation ,
Qualified Opportunity Funds ,
U.S. Treasury
The Bracewell Tax Report is a periodic publication focused on developments in federal income tax law, including the recently enacted Tax Cuts and Jobs Act, with emphasis on how such developments impact the energy, technology...more
10/18/2018
/ Business Taxes ,
Construction Industry ,
Energy Projects ,
Interim Rule ,
Investment Tax Credits ,
Investors ,
IRS ,
NAICS ,
Partnerships ,
Physical Work Test ,
Proposed Regulation ,
Protecting Americans from Tax Hikes (PATH) Act ,
Tax Cuts and Jobs Act ,
Tax Exempt Entities ,
Tax Exemptions ,
Tax Reform ,
UBTI