News & Analysis as of

Comment Period Inflation Reduction Act (IRA) Internal Revenue Service

Holland & Knight LLP

Treasury, IRS Release Proposed Regulations Under Section 30C

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The U.S. Department of the Treasury and IRS on Sept. 18, 2024, released proposed regulations under Section 30C of the Internal Revenue Code regarding the Alternative Fuel Vehicle Refueling Property Credit. The proposed...more

Cadwalader, Wickersham & Taft LLP

Everything You Need to Know About Energy Tax Credit Sales

The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits.  ...more

Foley Hoag LLP - Energy & Climate Counsel

IRS Issues Guidance and Requests Comment on Provisional Emission Rate Process for Hydrogen Tax Credit

On April 10, 2024, Department of Treasury and the Internal Revenue Service (collectively, “IRS”) issued further guidance on the “Provisional Emission Rate” or “PER” process for the Inflation Reduction Act’s (“IRA”) Hydrogen...more

Holland & Knight LLP

Inflation Reduction Act Direct Pay Rules Finalized

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The U.S. Department of the Treasury and IRS released final regulations under Section 6417 of the Internal Revenue Code, as enacted by the Inflation Reduction Act (IRA). Section 6417 allows certain taxpayers to elect to...more

Akin Gump Strauss Hauer & Feld LLP

Proposed Clean Hydrogen Guidance: Limitations on Credit Availability for Green Hydrogen Projects and Paths Forward

Guidance recently issued by the Department of the Treasury and the Internal Revenue Service (IRS) in proposed regulations (REG-117631-23) will (if held to be final) have a significant impact on green hydrogen projects in the...more

Faegre Drinker Biddle & Reath LLP

Department of Treasury Issues Guidance on Section 45X Production Tax Credit

The U.S. Department of the Treasury, in conjunction with the Internal Revenue Service (IRS), released updated proposed guidance on the Section 45X Production Tax Credit (PTC). The guidance addresses specific requirements...more

Jones Day

Proposed IRS Regulations on Tax Credits for Renewable-Energy Investments Include Wage and Apprenticeship Requirements

Jones Day on

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

Seyfarth Shaw LLP

The IRS – Finally – Publishes a Notice of Proposed Rulemaking Clarifying Inflation Reduction Act Prevailing Wage and...

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Seyfarth Synopsis: This alert summarizes the IRS’s recent notice of proposed rulemaking on complying with prevailing wage and apprenticeship requirements under the Inflation Reduction Act and explains key provisions...more

Holland & Knight LLP

Treasury, IRS Issue Proposed Regulations on IRA Prevailing Wage and Apprenticeship Requirements

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Ten months after the release of initial guidance, the U.S. Department of the Treasury and IRS on Aug. 29, 2023, issued proposed regulations regarding increased credit or deduction amounts available for taxpayers satisfying...more

Eversheds Sutherland (US) LLP

Directions regarding Direct Pay - Proposed Regulations Released on Elective Payment for Inflation Reduction Act Renewable Energy...

On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued guidance on several topics related to tax credit monetization under the Inflation Reduction Act of 2022 (IRA),...more

Eversheds Sutherland (US) LLP

Treasury and the IRS release much-anticipated guidance, including with respect to the monetization of energy tax credits

On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a package of much-awaited guidance (the Guidance) consisting of (i) proposed regulations addressing the tax credit...more

Holland & Knight LLP

Treasury Department, IRS Release Clean Vehicle Tax Guidance

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The U.S. Department of the Treasury and IRS have released several pieces of guidance regarding the tax incentives for clean vehicles provided under Sections 30D (new clean vehicle credit), 25E (previously owned vehicle...more

Holland & Knight LLP

Treasury Department's First Repurchase Excise Tax Guidance Contains Rotten "Easter Eggs"

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The U.S. Department of the Treasury and IRS intend to issue proposed regulations addressing application of a new excise tax on repurchases of corporate stock under Section 4501 of the Internal Revenue Code (Code). Section...more

Holland & Knight LLP

Eyes on Energy Tax Update: January 2023

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Eyes on Energy Tax Update is a regular publication of the Holland & Knight Energy Tax Team that provides highlights of important energy tax developments. The fourth quarter of 2022 brought a flurry of energy tax...more

Holland & Knight LLP

Notice 2023-7: First Peek at Corporate AMT Guidance

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As promised, the U.S. Department of the Treasury (Treasury Department) and IRS on Dec. 27, 2022, issued guidance regarding the new corporate alternative minimum tax (CAMT) enacted as part of the Inflation Reduction Act (IRA)....more

Husch Blackwell LLP

IRS Seeks Public IRA Comments by December 2

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On November 3, 2022, the Internal Revenue Service (IRS) issued three notices (“November 3 Notices”) requesting public input on the climate and clean energy incentives contained in the Inflation Reduction Act (“IRA”)....more

Brownstein Hyatt Farber Schreck

IRS Solicits Public Comments on Additional Inflation Reduction Act Energy Tax Credits

Earlier today, Nov. 3, the IRS issued three new public notices concerning upcoming energy guidance on five of the tax incentives included in the recently passed Inflation Reduction Act (IRA). Each notice includes a brief...more

Wilson Sonsini Goodrich & Rosati

U.S. Treasury and the IRS Issue Request for Public Comments on Energy Tax Provisions in the Inflation Reduction Act

On October 5, 2022, the U.S. Treasury Department (the Treasury) and Internal Revenue Service (IRS) released six notices requesting public comment on the new and expanded energy tax provisions in the Inflation Reduction Act of...more

Littler

New Federal Tax Credits Require Compliance with New Prevailing Wage and Apprenticeship Mandates on Clean Energy Construction

Littler on

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA) of 2022. Among many other provisions, the IRA contains a new federal 30% tax credit for private construction, alteration or repair of...more

Wiley Rein LLP

Treasury Requests Comments for Upcoming Guidance on Energy Tax Benefits in the Inflation Reduction Act

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The U.S. Treasury Department (Treasury) and the Internal Revenue Service (IRS) published six notices on October 5, 2022, requesting comments on various provisions in the Internal Revenue Code (Code) related to energy tax...more

Mayer Brown

IRS Requests Comments on Various Aspects of Energy Tax Credits

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On October 5, 2022, the U.S. Internal Revenue Service (IRS) issued six notices requesting comments on various aspects of extensions and enhancements of energy tax benefits in the Inflation Reduction Act. Here is list of, and...more

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