On May 12, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-38, which describes certain rules that Treasury and the IRS intend to include in forthcoming proposed regulations...more
The availability of transferable tax credits brings opportunities for an investor to reduce tax burden, while also facilitating investments in renewables. How can dealmakers best unlock the potential value that awaits, while...more
On April 4, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-29, which describes certain rules that Treasury and the IRS intend to include in forthcoming proposed regulations...more
The Inflation Reduction Act of 2022 (IRA) will be a game changer for the energy industry. This guide focuses on those issues of particular significance to the energy industry; it is not intended to be comprehensive....more
On October 28, the House Rules Committee released a modified version of the budget reconciliation legislation, the Build Back Better Act (the Bill), including Subtitle D, Green Energy. Before release of the Bill, President...more
The Biden administration earlier this year released a summary of its plans to invest in infrastructure, which included “direct-pay” options for the investment tax credit (ITC) and production tax credit (PTC) for clean energy...more
On July 1, the IRS issued Revenue Ruling 2021-13, which concludes that an acid gas removal (AGR) unit at a methanol plant constituted carbon capture equipment for purposes of the carbon capture credit under Section 45Q...more
On December 21, the House and Senate passed H.R. 133, the “Consolidated Appropriations Act, 2021,” with overwhelming support. A video posted on December 22 on Twitter cast doubt on whether the president will sign the bill....more