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U.S. Treasury › Investment Tax Credits › S-Corporation

Eversheds Sutherland (US) LLP

Treasury and IRS release final regulations on elective payment election under CHIPS Act Section 48D

Eversheds Sutherland (US) LLP on

On March 5, 2024, the Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) on the elective payment election of the advanced manufacturing investment credit...more

K&L Gates LLP

New Temporary Regulations Deny Basis Increase in Partnership Interests in Lease Passthrough ITC Structures

K&L Gates LLP on

On July 21, the U.S. Treasury Department (“Treasury”) released temporary and proposed regulations denying a basis increase to equity holders of lessee partnerships and S corporations to account for mandatory income inclusions...more

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