The Background: The U.S. Treasury Department ("Treasury") issued regulations finalizing the reporting requirements on the 1% corporate stock buyback tax and starting the clock on the tax's first filing and payment deadline....more
The Background: The Inflation Reduction Act ("IRA") created or enhanced various tax credits for qualifying renewable energy projects. However, a taxpayer loses 80% of otherwise-available IRA credits unless prevailing wage...more
7/5/2024
/ Apprenticeships ,
Clean Energy ,
Department of Labor (DOL) ,
Employer Liability Issues ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
IRS ,
Prevailing Wages ,
Renewable Energy ,
Tax Credits ,
Wage and Hour
The Department of Treasury and the Internal Revenue Service released newly proposed regulations regarding the clean electricity production and investment tax credits....more
6/3/2024
/ Clean Energy ,
Energy Projects ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Oil & Gas ,
Production Tax Credit ,
Proposed Regulation ,
U.S. Treasury ,
Zero Emission Credits
The Department of Treasury, the Internal Revenue Service, and the Department of Energy finalized guidance on the requirements for new and used clean vehicles to be eligible for federal tax credits....more
5/15/2024
/ Automotive Industry ,
Clean Car Standards ,
Clean Energy ,
Department of Energy (DOE) ,
Due Diligence ,
Electric Vehicles ,
Federal Taxes ,
Foreign Entities ,
Inflation Reduction Act (IRA) ,
IRS ,
Proposed Guidance ,
Supply Chain ,
Tax Credits ,
U.S. Treasury
The Department of Treasury and the Internal Revenue Service issued final regulations on requirements for taxpayers selling clean energy tax credits....more
New proposed Treasury and Department of Energy ("DOE") guidance, issued on December 1, 2023, offers clarity on which vehicles will be disqualified from the Clean Vehicle Tax Credit due to the inclusion of minerals or...more
1/3/2024
/ Automotive Industry ,
Clean Car Standards ,
Clean Energy ,
Department of Energy (DOE) ,
Electric Vehicles ,
Foreign Entities ,
Inflation Reduction Act (IRA) ,
IRS ,
Motor Vehicles ,
Proposed Guidance ,
Tax Credits ,
U.S. Treasury
In Short -
The Background: The Inflation Reduction Act provides for robust tax incentives on qualifying renewable-energy construction projects. In order to claim the full amount of such tax credits on qualifying projects,...more
10/11/2023
/ Apprenticeships ,
Clean Energy ,
Comment Period ,
Construction Workers ,
Davis-Bacon Act ,
Department of Labor (DOL) ,
Inflation Reduction Act (IRA) ,
IRS ,
NLRA ,
Popular ,
Prevailing Wages ,
Proposed Regulation ,
Recordkeeping Requirements ,
Renewable Energy ,
Renewable Energy Incentives ,
Tax Credits ,
Wage and Hour
In Short -
The Situation: With the Inflation Reduction Act of 2022 (the "IRA"), Congress created new tax credits and expanded several others to encourage U.S. taxpayers to invest in clean energy and carbon reduction...more
The U.S. Department of the Treasury has issued interim guidance outlining forthcoming proposed regulations regarding the domestic content bonus credit available to clean energy projects under the Inflation Reduction Act of...more
The Inflation Reduction Act gives taxpayers two options for monetizing the Internal Revenue Code's energy-related tax credits—a "direct pay" election and the ability to sell credits to third parties for cash. These options...more
The Inflation Reduction Act of 2022 (the "Act"), signed into law by President Biden this month, offers new or expanded tax incentives for buying electric vehicles ("EVs") and using or producing certain environmentally...more
The Inflation Reduction Act (the "Act"), signed into law by President Biden on August 16, 2022, will significantly impact clean energy. This White Paper contains a summary of the provisions most relevant to the renewable...more
In Short -
The Situation: On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 into law. The Act establishes a new 15% corporate minimum tax (the "CMT") on large U.S. corporations (generally...more
The Act breathes new life into Section 45Q, the federal carbon capture tax credit, available to taxpayers capturing and sequestering qualifying carbon dioxide and other carbon oxides and claimed over a 12-year period. The...more
While our inboxes are flooded on a daily basis with news about how the pandemic has created supply chain and commodities issues, global organizations must think about more than just near-term issues. Although the pandemic...more
2/28/2022
/ Antitrust Provisions ,
Automotive Industry ,
Environmental Social & Governance (ESG) ,
Goods or Services ,
Manufacturers ,
Motor Vehicles ,
Regulatory Standards ,
Suppliers ,
Supply Chain ,
Supply Contracts ,
US Trade Policies
On November 26, 2018, the U.S. Treasury released proposed regulations under section 163(j) of the Internal Revenue Code, which, as amended by last year's tax reform, generally limits deductibility of net business interest...more
The proposed regulations, released October 31, 2018, generally provide tax-free treatment to a U.S. corporate parent of a controlled foreign corporate subsidiary ("CFC") for deemed dividends triggered when the CFC provides...more
11/2/2018
/ Borrowers ,
Controlled Foreign Corporations ,
Joint and Several Liability ,
Lenders ,
Parent Corporation ,
Proposed Regulation ,
Real Estate Investments ,
Section 956 ,
Shareholders ,
Subsidiaries ,
U.S. Treasury