On May 16, 2024, the IRS released Notice 2024-41, which modifies the previously issued Notice 2023-38, to provide a new safe harbor for qualifying for the “domestic content” addition to the federal production or investment...more
On Wednesday, June 14, 2023, the Internal Revenue Service (IRS) and U.S. Department of Treasury (Treasury) issued proposed Treasury Regulations on the elective payment of certain tax credits (also known as direct pay) under...more
6/20/2023
/ Energy Projects ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Regulation ,
Renewable Energy ,
S-Corporation ,
Tax Credits ,
Tax Exemptions ,
Tax Liability ,
Tax Returns ,
U.S. Treasury
As the 117th Congress works to enact legislation implementing President Biden’s “Build Back Better Recovery Plan,” extending and expanding current renewable energy tax incentives will be an integral part of the discussion....more
4/1/2021
/ Biden Administration ,
Carbon Capture and Sequestration ,
Energy Projects ,
Energy Sector ,
Investment ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Tax Equity
On December 21, 2020, Congress passed a series of energy tax credit extenders and additions as part of the omnibus spending and coronavirus relief bill. The bill has not yet been signed by President Trump....more
On February 19, 2020, the IRS issued two guidance items concerning the tax credit for carbon oxide sequestration (COS) under section 45Q: Notice 2020-12 and Revenue Procedure 2020-12. The new guidance is very similar to IRS...more
3/3/2020
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Energy Projects ,
Greenhouse Gas Emissions ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investors ,
IRS ,
New Guidance ,
Partnerships ,
Revenue Procedures ,
Safe Harbors ,
Tax Credits ,
Tax Planning