On Feb. 20, 2020, the IRS issued Notice 2020-12 and Revenue Procedure 2020-12 regarding carbon capture tax credits (IRC Section 45Q). Notice 2020-12 (the begin construction notice) provides guidance to determine when...more
2/25/2020
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Corporate Counsel ,
Energy Projects ,
Internal Revenue Code (IRC) ,
IRS ,
Popular ,
Safe Harbors ,
Solar Energy ,
Tax Credits ,
Wind Power
The U.S. Treasury Department and the Internal Revenue Service (IRS) recently issued proposed regulations providing guidance to taxpayers on the tax consequences of modifying financial instruments and contracts in advance of...more
The Internal Revenue Service recently published its annual notice providing the inflation adjustment factors and reference prices used in determining the amount of production tax credits (PTCs) for renewable energy and...more
Earlier this month, the Internal Revenue Service issued Notice 2019-43, which modifies guidance provided in prior Notices 2013-29, 2013-60, 2014-46, 2015-25, 2016-31, 2017-04 and 2018-59 to provide that the continuity safe...more
The advent of Opportunity Zones (OZ) offers players in the private finance and real estate communities a new way to enjoy tax incentives while helping economically distressed areas. Recently, the IRS and the Treasury...more
6/28/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Low Income Housing ,
Low-Income Issues ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives
In February 2018, the tax credit for carbon capture and sequestration under Section 45Q of the Internal Revenue Code (the carbon sequestration credit) received a significant boost from Congress in the Bipartisan Budget Act of...more
On April 17, 2019, the Department of Treasury and Internal Revenue Service released another set of proposed regulations on the Opportunity Zone (OZ) tax benefit. Until recently, many investors, funds, business owners and real...more
On Dec. 13, 2018, the Internal Revenue Service and Department of Treasury issued proposed regulations addressing the base erosion and anti-abuse tax (BEAT). In general, the regulations provide guidance for identifying an...more
With the release of the Opportunity Zone proposed regulations, potential investors and funds eagerly awaiting this guidance began moving into the next phase of a plan to inject capital into low-income communities. Department...more
On Oct. 19, the IRS and Treasury Department issued proposed regulations and a Revenue Ruling as the first part of its long-anticipated guidance package regarding the Opportunity Zone program. Enacted at the end of last year...more
The recent enactment of the Bipartisan Budget Act of 2018 extended and significantly expanded the existing tax credit for carbon sequestration under Section 45Q of the Internal Revenue Code. Although the Section 45Q credit...more
On June 22, the IRS issued Notice 2018-59, providing guidance to determine when construction has begun on energy facilities, for purposes of the Section 48 investment tax credit.
The long-awaited guidance follows changes...more