News & Analysis as of

Energy Tax Incentives U.S. Treasury New Guidance

DarrowEverett LLP

New Domestic Content Adder Guidance: ‘Buy American’ is Back

DarrowEverett LLP on

On May 16, 2024, the Department of the Treasury and the IRS announced the release of Notice 2024-41, which clarifies the safe harbor for classification of project components created in Notice 2023-38 and provides a new safe...more

Troutman Pepper

Treasury and IRS Release Further Guidance on Energy Community Enhancements Under IRA

Troutman Pepper on

On March 22, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-30, which modifies prior guidance on the energy community enhancements. It further clarifies (a) when offshore...more

Holland & Knight LLP

Eyes on Energy Tax Update: Second Quarter 2023

Holland & Knight LLP on

The second quarter of 2023 saw continued developments as a result of the enactment of the Inflation Reduction Act of 2022 (IRA), court activity and announcements from federal agencies. Below, we summarize the updates you need...more

Pierce Atwood LLP

Treasury Issues Long-Awaited Guidance on Transferability and Direct Pay Provisions of IRA

Pierce Atwood LLP on

The U.S. Department of the Treasury recently issued its long-awaited guidance on two cash monetization options available for renewable energy projects under the Inflation Reduction Act of 2022 (IRA or Act) – Transferability...more

Bracewell LLP

Treasury Department and IRS Release Long-Awaited Guidance on Credit Transfers

Bracewell LLP on

On June 14, 2023, the Treasury Department and the Internal Revenue Service (IRS) released long-awaited guidance (the Credit Transfer Guidance) regarding the transfer of energy transition tax credits under Section 6418, which...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

Bracewell LLP

Treasury Department and IRS Release Guidance on the New Domestic Content Bonus Credit

Bracewell LLP on

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

Bracewell LLP

IRS and Treasury Department Release Initial Guidance for Labor Requirements under Inflation Reduction Act

Bracewell LLP on

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

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