The highly anticipated guidance for the second round of allocations (Round Two) under the US Treasury’s §48C Qualifying Advanced Energy Project Tax Credit program was released this week pursuant to IRS Notice 2024-36, with...more
The Internal Revenue Service (IRS) recently launched a new online registration portal allowing taxpayers to begin the registration process that must be completed in order for a taxpayer to elect to transfer a credit (under...more
This past summer, the Treasury and Internal Revenue Service (IRS) published proposed Treasury Regulations (88 FR 40528 and 88 FR 40496) under two key provisions of the Inflation Reduction Act of 2022 (IRA) designed to enable...more
On May 31, 2023, the Department of Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) released Notice 2023-44 (“Notice”) to provide additional guidance on Section 48C, a revised and expanded allocation-based...more
Inflation Reduction Act Overview -
$740 billion package focused on inflation and deficit reduction, health care, and energy security & climate change -
• Raises $737 billion in revenue through a new 15% corporate book...more
4/20/2023
/ Affordable Care Act ,
Clean Energy ,
Climate Change ,
Deficit Reduction ,
Energy Sector ,
Healthcare ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Prevailing Wages ,
Production Tax Credit ,
Tax Credits ,
Wages
On November 3, 2022, the U.S. Department of Treasury (Treasury) and Internal Revenue Service (IRS) released three Notices requesting public comments by December 3, 2022, on certain additional aspects of the clean energy tax...more
On October, 5, 2022, the U.S. Department of Treasury (Treasury) and Internal Revenue Service (IRS) published six Notices requesting public comments by November 4, 2022 on certain of the clean energy tax incentives included in...more
11/3/2022
/ Carbon Capture and Sequestration ,
Clean Energy ,
Energy Tax Incentives ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Manufacturers ,
Prevailing Wages ,
Production Tax Credit ,
Public Comment ,
Tax Incentives ,
U.S. Treasury
On July 27, 2022, Senator Joe Manchin and Senate Majority Leader Chuck Schumer announced that they have reached an agreement on a budget reconciliation bill (the Inflation Reduction Act of 2022, the “Act”). Although the Act...more
8/2/2022
/ Alternative Minimum Tax ,
Capital Gains Tax ,
Carried Interest Tax Rates ,
Clean Energy ,
Energy Tax Incentives ,
Foreign Corporations ,
Inflation Adjustments ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy