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Paul Hastings LLP

Treasury Issues Proposed Regulations on the Section 30C Alternative Fuel Vehicle Refueling Property Credit

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The Alternative Fuel Vehicle Refueling Property Credit available under Section 30C of the U.S. Internal Revenue Code of 1986, as amended (the “Code” and such credit, the “Section 30C Credit”), was originally enacted by the...more

Cadwalader, Wickersham & Taft LLP

Presidential Candidates’ Tax Proposals Diverge on the Road to November

The outcome of the upcoming elections is likely to significantly impact future tax legislation.  Notably, many tax provisions enacted under prior tax legislation, commonly called the Tax Cuts and Jobs Act (the “TCJA”), will...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Special Alert

State Agency Seeks Feedback on Targeted Georgia Tax Incentives - As the Georgia General Assembly works to assess the cost and effectiveness of the state's tax credits and exemptions, Georgia taxpayers have an opportunity...more

A&O Shearman

Navigating the new elective safe harbor for the Domestic Content Bonus Tax Credit

A&O Shearman on

The U.S. Treasury Department and the Internal Revenue Service have issued a new safe harbor that will make it easier for U.S. solar, onshore wind and battery storage projects with U.S.-sourced components to qualify for...more

Polsinelli

Not-For-Profits Gain Access to Historic Tax Credits with Enactment of Missouri HB 2062

Polsinelli on

On May 16, Missouri passed HB 2062 modifying the state’s existing Historic Tax Credit (HTC) program. The bill alters the program in several significant ways. The program will now feature a year-round application cycle,...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department and IRS Issue Final Regulations and Other Guidance on the Direct Pay Election under Section 6417 of the...

Under Section 6417 of the Internal Revenue Code (IRC), “applicable entities” and certain electing taxpayers can elect to treat various renewable energy tax credits as payments against tax, essentially making those credits...more

McDermott Will & Emery

Employers Be Forewarned and Forearmed: Recent IRS Announcements Require Action on ERTC Claims

McDermott Will & Emery on

Promoters and tax advisors have extensively marketed the Employee Retention Tax Credit (ERTC) as a way for employers to reclaim Federal Insurance Contributions Act (FICA) payroll taxes paid during the first two years of the...more

Cadwalader, Wickersham & Taft LLP

Treasury's Recycling Bin Overflows with Comments to Their Proposed Rules on Energy Tax Credit Transfers

On June 14, 2023, the IRS requested comments on their proposed regulations on the transferability provisions created under the Inflation Reduction Act of 2022 (the “IRA”) that allow developers to sell clean energy tax...more

Mayer Brown

US Treasury to Propose Regulations on Energy Community Bonus Adders

Mayer Brown on

On April 4, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a notice of intent to issue proposed regulations on qualifying for the energy community bonus credit under Sections...more

Polsinelli

The Proposed Inflation Reduction Act Moves to the House After the Senate Passes a Revised Version of the Bill

Polsinelli on

On August 7, 2022, the Senate passed the Inflation Reduction Act of 2022 (H.R. 5376) (the “Act”).  The announced goal of the Act is to create an economic initiative to address various climate protection initiatives.  In...more

Nelson Mullins Riley & Scarborough LLP

Nelson Mullins Tax Report – Senate Passes Inflation Reduction Act

On August 7, 2022, the Senate passed the budget reconciliation bill known as the Inflation Reduction Act. The legislation includes several key tax provisions, and addresses health insurance and prescription drug...more

Goulston & Storrs PC

Biden’s FY2023 Budget: Key Real Estate & Corporate Tax Proposals

Goulston & Storrs PC on

On March 28, 2022, President Biden released his FY2023 budget (the “FY2023 Budget”), and the U.S. Treasury released the so-called “Green Book,” which provides details related to the revenue provisions in the FY2023 Budget....more

Vinson & Elkins LLP

Clean Energy Tax Proposals in Biden’s New “Build Back Better” Framework

Vinson & Elkins LLP on

Faced with opposition from within his own party, President Biden last week unveiled a new, pared down framework for his “Build Back Better” agenda. Following release of the president’s framework, H.R. 5376 (the “Build Back...more

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