News & Analysis as of

Tax Credits Registration Requirement

Vinson & Elkins LLP

Crux + Vinson & Elkins: Tax Credit Transfers 101: A Guide to the Essential Steps

Vinson & Elkins LLP on

Much has been written about the benefits of tax credit transfers following the passage of the Inflation Reduction Act (IRA), but questions remain as to how to actually effectuate a transfer. This how-to guide provides market...more

Holland & Knight LLP

Treasury Department, IRS Issue Section 45Z Clean Fuel PTC Registration Guidance

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS released Notice 2024-49 on May 31, 2024, regarding the registration requirement and certain other limited guidance under Section 45Z of the Internal Revenue Code. Section 45Z...more

Womble Bond Dickinson

IRS Publishes Final Regulations for Transfer of Certain Credits

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The Inflation Reduction Act of 2022 added Section 6418 to the Internal Revenue Code (the “Code”) to allow taxpayers to sell certain Federal income tax credits....more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department and IRS Issue Final Regulations Regarding the Transferability of Tax Credits Under Section 6418 of the...

The final regulations adopt the provisions of the previously proposed regulations with modest modifications and clarifications. The registration portal for transferring tax credits is open, and no significant changes have...more

BakerHostetler

Monetizing Renewable Energy Credits - Final Regulations on Direct Pay

BakerHostetler on

As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and enacted under § 6417 an election that allows applicable entities...more

Holland & Knight LLP

Inflation Reduction Act Direct Pay and Transfer Pre-Filing Registration Is Open for Business

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The IRS launched its Inflation Reduction Act (IRA) Pre-Filing Registration Tool in late 2023 for elective (direct) payments under Section 6417 and tax credit transfers under Section 6418 of the Internal Revenue Code....more

Holland & Knight LLP

Treasury, IRS Release Proposed Regulations and Procedures for Clean Vehicle Credit Transfers

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on Oct. 6, 2023, released proposed regulations on the transfer of clean vehicle credits under Internal Revenue Code Section 25E (for previously owned clean vehicles) and Section 30D...more

Bricker Graydon LLP

IRS Releases Guidance on Elective Payments

Bricker Graydon LLP on

On Wednesday, June 14, 2023, the IRS released its long-awaited initial guidance and proposed regulations regarding the newly created direct payment election methodology. The federal government created this new “elective...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

Smith Gambrell Russell

Industry Urges IRS to Delay Superfund Tax by Six Months

Smith Gambrell Russell on

Chemical industry groups have urged the IRS to delay implementation of the Superfund taxes on chemicals which were reinstated by Congress in the bipartisan, infrastructure law. According to industry representatives, the IRS...more

Dechert LLP

Small Business Credit Availability Act: Increasing Capital and Flexibility for Business Development Companies

Dechert LLP on

Highlights - On March 23, 2018, President Trump signed the Small Business Credit Availability Act (the Act), which aims to increase the availability of funding to small to mid-sized private U.S. companies and startups by...more

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