News & Analysis as of

Inflation Reduction Act (IRA) New Guidance Energy Sector

Holland & Knight LLP

IRS Updates Energy Community Bonus Tax Credit Guidance

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The IRS released additional guidance on June 7, 2024, in the form of Notice 2024-48 (Notice) regarding the energy community bonus credit under Sections 45, 48, 45Y and 48E of the Internal Revenue Code. The Notice follows...more

Vinson & Elkins LLP

Treasury Releases Notice on the Section 45Z Clean Fuel Production Credit

Vinson & Elkins LLP on

On May 31, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service continued to churn out Inflation Reduction Act of 2022 (“IRA”)1 guidance by releasing Notice 2024-49 (the “Notice”) regarding the...more

Holland & Knight LLP

DOE Announces Award Negotiations Updates for Large Capital Projects

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The U.S. Department of Energy, Office of the Under Secretary for Infrastructure (S3) (DOE) held a webinar and released a memorandum on May 24, 2024, that provided key updates and guidance regarding award negotiations for...more

Foley Hoag LLP - Energy & Climate Counsel

Treasury and IRS Issue Guidance on Calculating Lifecycle GHG Emissions for IRA’s Sustainable Aviation Fuel Tax Credit

The IRA created substantial tax credits for SAF. Under Section 40B, SAF producers who meet certain requirements can claim a credit of at least $1.25 per gallon of SAF. Among other things, eligible SAF must achieve lifecycle...more

Mintz - Tax Viewpoints

Treasury Department Issues Guidance on Round Two of §48C Advanced Energy Tax Credit Program

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

Vinson & Elkins LLP

[Webinar] The Inflation Reduction Act – 1 Year Later - September 13th, 12:00 pm - 1:00 pm CT

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In this presentation, we will discuss substantive updates and guidance released on IRA credits and monetization and provide a market update....more

Holland & Knight LLP

Eyes on Energy Tax Update: Second Quarter 2023

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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

Bracewell LLP

Treasury Department and IRS Issue Additional Guidance on the New Low-Income Communities Bonus Credit Program

Bracewell LLP on

The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for certain wind and solar facilities located in designated...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

Eversheds Sutherland (US) LLP

Treasury and IRS release domestic content guidance for renewable energy tax credits

On May 12, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released Notice 2023-38 to provide guidance on the domestic content requirements under IRC sections 45, 45Y, 48, and 48E....more

Bricker Graydon LLP

What is an “Energy Community” - IRS Provides Guidance on Key Aspect of the Inflation Reduction Act

Bricker Graydon LLP on

The Inflation Reduction Act (IRA) has been called the most aggressive climate investment ever undertaken by the U.S. Congress. With approximately $370 billion dollars in funding over the next 10 years, it is projected that...more

Holland & Knight LLP

Eyes on Energy Tax Update: First Quarter 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. ...more

McDermott Will & Emery

Key Takeaways | Guidance on the Wage and Apprenticeship Provisions

McDermott Will & Emery on

The Navigating the New Energy Landscape webinar series came back last week for a special bonus session that focused on the just-released Internal Revenue Service (IRS) guidance on the wage and apprenticeship provisions...more

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