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
5/17/2024
/ Energy Projects ,
Energy Sector ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Renewable Energy ,
Renewable Energy Incentives ,
Safe Harbors ,
Tax Credits ,
U.S. Treasury
Beginning with taxes levied for collection in 2025, a newly enacted Washington property tax statute provides an exemption from the state-imposed portion of personal property tax for qualified personal property used for the...more
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
8/31/2023
/ Apprenticeships ,
Davis-Bacon Act ,
Department of Labor (DOL) ,
Energy Projects ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
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
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
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
President Biden earlier this week signed the Inflation Reduction Act of 2022 (Act), which contains a number of tax and spending provisions impacting a broad range of businesses and individuals. These changes include a 15%...more
On July 27, Senate Democrats released the draft text of the Inflation Reduction Act of 2022 (the Act). The Act includes a number of climate and energy-related provisions similar to those that were included in the Build Back...more
The United States Court of Federal Claims recently released two anticipated opinions, Bishop Hill Energy, LLC v. United States and California Ridge Wind Energy, LLC v. United States, which were issued under seal on January 7,...more
6/26/2019
/ 1603 Grants ,
Burden of Proof ,
Counterclaims ,
Department of Justice (DOJ) ,
Economic Substance Doctrine ,
Energy Projects ,
Fees ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Renewable Energy ,
Sham Transactions ,
Tax Credits ,
Testimony
House and Senate Republicans released yesterday evening language of a comprehensive tax reform bill, the “Tax Cuts and Jobs Act” (H.R. 1), that is expected to be voted on next week and signed into law by President Trump by...more
The much anticipated tax reform bill released today by the Republican leadership in the House would make several potentially significant changes to certain energy tax provisions. These would include changes to the Production...more
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
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
Congressional leadership reached agreement late last evening on an omnibus spending and tax bill that will be voted on by the House and Senate later this week. The bill reflects a global agreement among the leaders on tax and...more
Congress this week passed the Tax Increase Prevention Act of 2014, which extends a number of expired or expiring tax provisions through the end of 2014. The President is expected to sign the Act soon. The Act renews several...more
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
The Internal Revenue Service and the U.S. Department of the Treasury recently issued proposed regulations that may facilitate using real estate investment trusts (REITs) as vehicles for financing certain renewable energy...more