Martha Groves Pugh

Martha Groves Pugh

McDermott Will & Emery

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IRS Issues Additional Guidance with Respect to 2013 Beginning of Construction Rules for Wind and Other Renewable Projects

The Internal Revenue Service (Service) issued Notice 2014-46 (Notice) on August 8, 2014, to provide further guidance on meeting the beginning of construction requirements for wind and other qualified facilities (biomass,...more

8/15/2014 - Construction Contracts Contractors Energy Geothermal Energy Hydropower IRS Landfills Public Projects Renewable Energy Solar Energy Wind Power

Senate Finance Committee Tax Reform Proposal Streamlines Energy Tax Credits

On December 18, 2013, Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal that would streamline energy tax incentives to make them more predictable and technology neutral. The proposal would consolidate...more

2/7/2014 - Carbon Capture and Sequestration Clean Energy Coal Energy Energy Tax Incentives EPA Greenhouse Gas Emissions Internal Revenue Code Investment Tax Credits Nuclear Power Production Tax Credit Tax Reform Utilities Sector Wind Power

Safe Harbors for Rehabilitation Tax Credits

On December 30, 2013, the Internal Revenue Service issued much anticipated guidance, in the form of Revenue Procedure 2014-12, providing a safe harbor under which it will not challenge a partnership’s allocations of...more

1/16/2014 - IRS Rehabilitation Benefits Safe Harbors Tax Credits

Baucus Proposes Reforms to Energy Tax Incentives

Senate Finance Committee Chairman Max Baucus (D-MT) released a proposal on December 18 that would streamline energy tax incentives to make them more predictable and technology-neutral. The proposal consolidates several...more

12/20/2013 - Biomass Clean Energy Energy Tax Incentives Investment Tax Credits Max Baucus Production Tax Credit Renewable Energy Solar Energy Tax Credits Wind Power

D.C. Circuit Orders DOE to Stop Collecting Nuclear Waste Fee

The D.C. Circuit issued an opinion this week in National Association of Regulatory Utility Commissioners v. United States Department of Energy ordering the Secretary of Energy to submit a proposal to Congress to change the...more

11/22/2013 - DOE Fees Nuclear Waste

IRS Issues Additional Guidance on When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued additional guidance relating to when construction begins with respect to wind and other qualified facilities for purposes of the production tax credit and investment tax credit. ...more

9/26/2013 - Investment Tax Credits IRS Production Tax Credit Renewable Energy Safe Harbors Wind Power

Supreme Court Unanimously Upholds Creditability of UK Windfall Tax

In a rare unanimous decision with potentially far-reaching impact on taxpayers claiming foreign tax credits, the Supreme Court of the United States ruled that a “windfall tax” imposed by the United Kingdom was creditable...more

5/24/2013 - EU SCOTUS Windfall Tax

IRS Issues Notice to Determine When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued important guidance to determine when construction begins with respect to a qualified facility for purposes of the production tax credit and the investment tax credit for certain...more

4/23/2013 - Investment Tax Credits IRS Production Tax Credit Safe Harbors Tax Credits

Key Energy-Related Tax Provisions in the 2014 Budget Proposal

President Obama’s recently released budget proposal for the 2014 fiscal year contains energy-related tax provisions that include a permanent extension of the renewable energy production tax credit (PTC) and a provision making...more

4/23/2013 - Derivatives Energy Tax Incentives Federal Budget Investment Tax Credits New Market Tax Credits Production Tax Credit Tax Credits

Key Energy Tax Provisions Included in ‘Fiscal Cliff’ Legislation

On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 to address the tax rate hikes and expiring tax incentives to avert the “fiscal cliff.” President Obama signed the legislation into law on January...more

1/4/2013 - American Taxpayer Relief Act Fiscal Cliff Investment Tax Credits New Market Tax Credits Production Tax Credit Renewable Energy Wind Power

Supreme Court Agrees to Hear Divided Circuit Case Regarding Creditability of Foreign Taxes

In PPL Corporation v. Commissioner, the Supreme Court will likely set forth the test of how U.S. taxpayers should determine whether a foreign tax is creditable for U.S. income tax purposes. This decision may have...more

11/26/2012

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