News & Analysis as of

U.S. Treasury Investment Tax Credits New Guidance

Troutman Pepper

Treasury and IRS Release Updated Guidance on Energy Communities

Troutman Pepper on

On June 7, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-48. This notice includes lists of information that taxpayers may use to determine whether they meet certain requirements...more

Troutman Pepper

Treasury and IRS Release Further Guidance on Energy Community Enhancements Under IRA

Troutman Pepper on

On March 22, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-30, which modifies prior guidance on the energy community enhancements. It further clarifies (a) when offshore...more

ArentFox Schiff

Money (That’s What I Want): IRA’s Direct Pay Mechanism Benefits Tax-Exempt Entities

ArentFox Schiff on

The Inflation Reduction Act (IRA), which recently celebrated its one-year anniversary, presents new opportunities for tax-exempt and other organizations to directly benefit from renewable energy tax credits, including...more

Bracewell LLP

Treasury Department and IRS Release Guidance on the New Domestic Content Bonus Credit

Bracewell LLP on

The domestic content bonus credit (the DC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy and storage projects constructed with sufficient...more

Foley & Lardner LLP

Treasury and IRS Issue Guidance on Domestic Content Bonus Credit for Renewable Energy Projects

Foley & Lardner LLP on

On May 12, 2023, the IRS and the Department of the Treasury issued highly anticipated guidance regarding the requirements to satisfy the domestic content bonus tax credit provisions for investment tax credits under Sections...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

Eversheds Sutherland (US) LLP

Notice 2023-29: IRS and Treasury release guidance on energy community bonus tax credits

On April 4, 2023, the IRS and the Department of Treasury released Notice 2023-29 (the Notice), which provides that proposed regulations are forthcoming regarding the energy community bonus tax credits under IRC sections 45,...more

Foley & Lardner LLP

IRS Releases Guidance on Energy Community Credit Adder

Foley & Lardner LLP on

On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2023-29 (the “Notice”) providing a high-level overview of the rules they intend to include in...more

Eversheds Sutherland (US) LLP

Limited initial guidance issued for section 48(e) investment tax credit enhancer

On February 13, 2023, the Department of Treasury (Treasury) and the Internal Revenue Service (Service) issued Notice 2023-17 (Notice), establishing the 48(e) Low-Income Communities Bonus Credit Program (Program) with respect...more

Mintz - Energy & Sustainability Viewpoints

IRA Update: IRS Releases Limited Guidance on Low-Income Community Adder and Establishes Allocation Program Needed to Make the...

On Monday, February 13, 2023, the Department of the Treasury (Treasury) and the IRS published Notice 2023-17 (the Notice), establishing the program for allocating environmental justice capacity limitations (the Allocation...more

Bracewell LLP

IRS and Treasury Department Release Initial Guidance for Labor Requirements under Inflation Reduction Act

Bracewell LLP on

On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage requirements (the Prevailing Wage...more

McDermott Will & Emery

IRS Issues Critical Wage and Apprenticeship Guidance under Inflation Reduction Act of 2022

McDermott Will & Emery on

The US Department of the Treasury just released its guidance on the labor requirements that must be fulfilled in order to maintain the credit for the full amount for clean energy and infrastructure projects under the...more

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