The IRS recently issued Revenue Procedure 2014-12, providing a safe harbor under which the IRS will not challenge partnership allocations of “section 47” federal rehabilitation tax credits. In the aftermath of the IRS’s win...more
On September 20, 2013, the IRS released Notice 2013-60, which clarifies the IRS’s original guidance regarding the eligibility requirements for the production tax credit (PTC) and investment tax credit (ITC) for certain...more
On April 15, 2013, the IRS released Notice 2013-29 addressing the eligibility for certain alternative energy projects to qualify for the renewable electricity production tax credit (PTC) under section 45 of the Tax Code. This...more
On March 4, 2013, U.S. Treasury released guidance on the impact of the across-the-board spending cuts known as “sequestration” to the Section 1603 cash grant program.
As stated in the message, payments under Section...more
On December 7, 2012, the IRS made public its revocation of Private Letter Ruling 201214007 on the basis that the ruling was "not in accord with the current views of the Service." ...more