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Treasury Provides New Safe Harbor for Domestic Content Bonus Credit

The U.S. Department of the Treasury (Treasury) today released Notice 2024-41, Domestic Content Bonus Credit Amounts under the Inflation Reduction Act of 2022: Expansion of Applicable Projects for Safe Harbor in Notice 2023-38...more

Treasury Issues Proposed Regulations Regarding Prevailing Wage and Apprenticeship

The U.S. Department of the Treasury (Treasury) today released a notice of proposed rulemaking (Proposed Regulations) related to the prevailing wage and apprenticeship (PWA) requirements for increased tax credits established...more

Treasury Issues Proposed Regulations Related to Renewable Energy Tax Credit Monetization Elections

The U.S. Department of the Treasury (Treasury) earlier this week issued two notices of proposed rulemaking (the Proposed Regulations) related to the election to transfer certain tax credits (the Tax Credit Transfer Election)...more

Treasury Issues Preliminary Guidance on Domestic Content Bonus Credit Qualification

The U.S. Department of the Treasury earlier today released Notice 2023-38, Domestic Content Bonus Credit Guidance under Sections 45, 45Y, 48, and 48E (the Notice). The Notice indicates that the Treasury Department and the IRS...more

Treasury Issues Preliminary Guidance on Energy Community Bonus Credit Qualification

The U.S. Department of the Treasury earlier today released Internal Revenue Service (IRS) Notice 2023-29, Energy Community Bonus Credit Amounts under the Inflation Reduction Act of 2022 (the Notice).  The Notice indicates...more

Treasury Issues Guidance on Section 48C Credit Allocation Program

On February 13, 2023, the U.S. Department of the Treasury released Internal Revenue Service (IRS) Notice 2023-18, Initial Guidance Establishing Qualifying Advanced Energy Project Credit Allocation Program Under Internal...more

Treasury Issues Low-Income Communities Solar and Wind Credit Guidance

The U.S. Department of the Treasury yesterday released Internal Revenue Service Notice 2023-17, Initial Guidance Establishing Program to Allocate Environmental Justice Solar and Wind Capacity Limitation under Internal Revenue...more

IRS Provides Beginning-of-Construction Relief for Offshore Projects and Projects on Federal Land

The IRS recently issued Notice 2021-05, which provides relief for offshore projects and projects located on federal land related to the beginning-of-construction requirements for the production tax credit under Section 45 of...more

IRS Extends Continuity Safe Harbor for Beginning of Construction

The IRS today issued Notice 2020-41, which modifies prior notices regarding the beginning-of-construction requirement for qualifying for the production tax credit under Section 45 of the Code (“PTC”) and the investment tax...more

IRS Clarifies Deductibility of Expenses Associated with PPP Loan

The IRS today issued Notice 2020-32 (the Notice) relating to the deductibility for federal income tax purposes of certain otherwise deductible expenses related to amounts received pursuant to the Paycheck Protection Program...more

Treasury Issues New Proposed Qualified Opportunity Zone Regulations

The Department of the Treasury on April 17 released a highly anticipated second round of proposed regulations regarding investments in qualified opportunity zones. The opportunity zone incentive was enacted as part of the Tax...more

Qualified Opportunity Zones – Treasury Issues Proposed Regulations

The Treasury Department issued proposed regulations related to qualified opportunity zones on October 19, 2018. Congress created the qualified opportunity zone regime as part of the Tax Cuts and Jobs Act, which was enacted at...more

IRS Issues Guidance Regarding Beginning of Construction Requirement for ITC

The IRS today issued guidance regarding the “beginning of construction” requirement as it related to the investment tax credit (ITC) under Internal Revenue Code Section 48. The guidance, Notice 2018-59, generally applies the...more

IRS Updates “Beginning of Construction” Guidance

The IRS today issued highly anticipated guidance updating the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code (the Code) and the investment tax credit...more

Energy Tax Law Alert: IRS Expands Safe Harbor for Transfers of Property to Transmission Providers

The IRS on June 10 issued Notice 2016-36, which expands a safe harbor allowing certain transfers of property to regulated public utilities to be treated as nontaxable contributions of capital to a corporation, rather than as...more

Energy Tax Law Alert: IRS Rules That Payment for Intertie Constitutes Taxable Contribution in Aid of Construction

The IRS has issued a private letter ruling concluding that the reimbursement by a solar electric generator of an electric distribution company’s costs to construct an intertie is a contribution in aid of construction under...more

Energy Tax Law Alert: IRS Updates "Beginning of Construction" Guidance

The IRS has issued highly anticipated guidance updating the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code (the Code) and the investment tax credit...more

Energy Tax Law Alert: IRS Updates "Beginning of Construction" Guidance

The IRS today issued Notice 2015-25, updating its prior guidance in Notices 2013-29, 2013-60, and 2014-46, regarding the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the...more

Energy Tax Law Alert: IRS Issues New Guidance Regarding Beginning of Construction Requirement for ITC/PTC

On Friday, the IRS issued guidance that clarifies and modifies prior guidance regarding the “beginning of construction” requirement for qualifying for the production tax credit (PTC) under Section 45 of the Internal Revenue...more

Biofuels Law Alert: IRS Addresses the Identity of the "Producer" in Contract Manufacturing Arrangements

Last week the IRS released an internal memorandum addressing which of the parties to a contract manufacturing arrangement for biodiesel is treated as the “producer” of the biodiesel for certain federal tax purposes....more

Energy Tax Law Alert: IRS Clarifies "Beginning of Construction" Guidance

On September 20th, the IRS issued Notice 2013-60, which updates prior guidance, contained in Notice 2013-90, regarding the "begin-construction" requirement for the production tax credit (PTC) under Section 45 of the Internal...more

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