News & Analysis as of

Proposed Rules Inflation Reduction Act (IRA) Internal Revenue Service

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

Akin Gump Strauss Hauer & Feld LLP

IRS Issues Proposed Rules on New Tech-Neutral Clean Energy PTC and ITC

On May 29, 2024, the Internal Revenue Service (IRS) and the Department of Treasury issued proposed regulations (REG-119283-23) addressing the new technology neutral clean electricity production tax credit (PTC) in section 45Y...more

Perkins Coie

IRS Clean Vehicle Tax Credit Rule Adds Hurdles for Domestic Electric Vehicle Manufacturing

Perkins Coie on

The Internal Revenue Service (IRS) published a final rule on May 6, 2024, defining eligibility requirements for the clean vehicle credit under Section 30D of the Internal Revenue Code, enacted by the Inflation Reduction Act...more

Husch Blackwell LLP

Notice of Proposed Rulemaking – ITC and Qualified Biogas Property

Husch Blackwell LLP on

On November 17, 2023, the U.S. Department of the Treasury issued a Notice of Proposed Rulemaking (the “NPRM”) with respect to Proposed Regulations under section 48 of the Internal Revenue Code of 1986 (the “Code”). The NPRM...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Transferability of Clean Energy Tax Credits/Inflation Reduction Act: American Clean Power Association Comments Addressing Proposed...

The Inflation Reduction Act (“IRA”) included provisions addressing the transferability of clean energy tax credits. Prior to the enactment of these IRA provisions, it was not possible to monetize federal tax credits...more

Seyfarth Shaw LLP

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

Seyfarth Shaw LLP on

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

Cadwalader, Wickersham & Taft LLP

Is Treasury Tilting at Windmills with their Proposed Rules on Clean Energy Tax Credit Transfers?

Last August, the Inflation Reduction Act of 2022 (the “IRA”) introduced transferability provisions that will allow developers to sell clean energy tax credits.  On June 14, 2023, the IRS released proposed regulations and...more

Foley & Lardner LLP

Electrified Industrial Policy: IRS Proposed Regulations on Section 30D EV Tax Credits & EV Manufacturing Grants

Foley & Lardner LLP on

The Inflation Reduction Act of 2022 (the “IRA”) and the Infrastructure Investment and Jobs Act of 2021 (the “IIJA”) set in motion an ongoing series of changes that are aimed at transforming, among other things, the automotive...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

Latham & Watkins LLP

IRS Proposed Rules Explain How Taxpayers Can Buy and Sell Renewable Energy Tax Credits or Receive Cash Refunds

Latham & Watkins LLP on

The proposed rules for monetizing tax credits should catalyze energy transition markets and offer an alternative to tax equity transactions. On June 14, 2023, the IRS issued proposed rules for how it intends to administer...more

White & Case LLP

US Treasury Department Publishes Proposed Guidance on Clean Vehicle Tax Credits

White & Case LLP on

On April 17, 2023, the US Department of the Treasury ("Treasury") and the Internal Revenue Service ("IRS") published the Notice of Proposed Rulemaking for the Section 30D New Clean Vehicle Credit (the "Proposed Rules") to the...more

ArentFox Schiff

The US Inflation Reduction Act – The EV World is Watching - US trade rules to have significant impact on the law’s reach

ArentFox Schiff on

Enacted in August of 2022, the Inflation Reduction Act (IRA) was heralded by many as a landmark climate legislation in the United States. While the IRA’s tax credits for electric vehicles (EV) were among its most anticipated...more

Pillsbury Winthrop Shaw Pittman LLP

Inflation Reduction Act of 2022 Includes New Corporate Tax Provisions

The new law generally imposes a 15% alternative minimum tax on book income of corporations with book income in excess of $1 billion. Public companies will generally be subject to a 1% excise tax on stock buybacks. ...more

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