News & Analysis as of

Supply Chain Tax Credits New Guidance

Latham & Watkins LLP

IRS Safe Harbor Eases Path for Domestic Content Bonus Tax Credits

Latham & Watkins LLP on

IRS Notice 2024-41 provides taxpayers with a clearer path toward qualifying for domestic content bonus tax credits through a new elective safe harbor....more

Husch Blackwell LLP

IRS Releases Guidance on Domestic Content Bonus Credit Amounts

Husch Blackwell LLP on

On May 12, 2023, in Notice 2023-38 (the “Notice”), the IRS published rules intended for inclusion in forthcoming regulations regarding domestic content bonus credit amounts. The Inflation Reduction Act of 2022 amended §§...more

BakerHostetler

Overview and Observations of Notice 2023-38 - Domestic Content Bonus Requirements

BakerHostetler on

On May 12, 2023, the Internal Revenue Service (IRS) issued initial guidance in the form of the Notice that provides taxpayers with preliminary guidance relating to the application of the domestic content bonus requirements...more

Wiley Rein LLP

Treasury and IRS Provide Initial Guidance on Inflation Reduction Act Domestic Content Bonus Credit Requirements

Wiley Rein LLP on

On May 12, 2023, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued initial guidance on the Inflation Reduction Act’s (IRA) requirements for domestic content bonus tax credits for...more

Perkins Coie

IRS Issues Guidance on Battery Sourcing Requirements for Clean Vehicle Tax Credits

Perkins Coie on

The Internal Revenue Service (IRS) published guidance on April 17, 2023, in the form of a Notice of Proposed Rulemaking (NPRM), detailing the critical minerals and battery components requirements under Section 30D of the...more

Bracewell LLP

Treasury Department and IRS Release Guidance on the Advanced Energy Project Credit Allocation Program under Internal Revenue Code...

Bracewell LLP on

On February 13, 2023, the Treasury Department and the Internal Revenue Service (the IRS) released Notice 2023-18 (the Notice), which established the program (the Allocation Program) to allocate $10 billion of advanced energy...more

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