The Environmental Protection Agency’s (EPA) proposed rollback of the Greenhouse Gas Reporting Program (GHGRP) including 40 CFR part 98 subpart RR (Subpart RR) created uncertainty with respect to the requirements to qualify...more
The US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released Notice 2026-15 (Notice), providing long-awaited guidance on certain foreign entity of concern (FEOC) rules enacted under the One,...more
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) recently released proposed regulations under section 45Z of the Internal Revenue Code of 1986, as amended (Section 45Z). Section 45Z provides a...more
Notice 2026-1 (the Notice) provides important guidance under Section 45Q of the Internal Revenue Code of 1986, as amended (the Code), for taxpayers claiming that carbon oxides are stored in secure geological storage following...more
On November 7, 2025, Environmental Protection Agency (EPA) Administrator Lee M. Zeldin signed a final rule approving the application of the State of Texas for transfer of primacy over Class VI Underground Injection Control...more
The Commodity Futures Trading Commission (CFTC or Commission) announced September 10, 2025, that it is withdrawing its “Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts.” The Guidance, a...more
The One Big Beautiful Bill Act (which we discussed in a previous client alert) generally requires wind and solar facilities to begin construction before July 5, 2026, or be placed in service by December 31, 2027, to qualify...more
On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the OBBBA), which makes permanent or modifies key provisions of the 2017 Tax Cuts and Jobs Act (the TCJA) and scales back numerous energy tax...more
On January 3, 2025, the Treasury Department and the Internal Revenue Service issued final regulations under Internal Revenue Code (Code) Section 45V (the Final Regulations) with respect to credits for the production of clean...more
1/17/2025
/ Carbon Capture and Sequestration ,
Clean Energy ,
Energy Tax Incentives ,
Final Rules ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Internal Revenue Code (IRC) ,
IRS ,
Methane ,
Renewable Energy ,
Tax Credits ,
Tax Planning ,
U.S. Treasury
On November 19, 2024, the Treasury Department and the Internal Revenue Service issued final regulations under Internal Revenue Code (Code) Section 761 (the Final Regulations) enabling certain entities to make a direct pay...more
On May 29, 2024, the Treasury Department and the Internal Revenue Service (IRS) released a notice of proposed rulemaking (Proposed Regulations) with respect to Section 45Y (clean electricity production credit or CEPC) and...more
On December 22, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released a notice of proposed rulemaking and notice of public hearing containing proposed regulations (Proposed Regulations) with...more
1/3/2024
/ Clean Energy ,
Department of Energy (DOE) ,
Energy Tax Incentives ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury ,
Zero Emission Credits
On September 29, 2023, the Internal Revenue Service (IRS) and the Department of the Treasury (Treasury) released their 2023–2024 Priority Guidance Plan (the Plan). The Plan describes the various guidance priorities of the IRS...more
10/9/2023
/ Apprenticeships ,
Carbon Capture and Sequestration ,
Clean Energy ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Nuclear Power ,
Prevailing Wages ,
Priority Guidance Plan ,
U.S. Treasury
On August 29, 2023, the IRS and Treasury Department released proposed regulations (the Proposed Regulations) regarding the prevailing wage requirements (the Prevailing Wage Requirements) and the apprenticeship requirements...more
The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for certain wind and solar facilities located in designated...more
7/7/2023
/ Bonuses ,
Capacity ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
IRS ,
Low Income Housing ,
Low-Income Issues ,
New Guidance ,
Proposed Rules ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
U.S. Treasury ,
Wind Power
On June 14, 2023, the Treasury Department and the Internal Revenue Service (IRS) released long-awaited guidance (the Credit Transfer Guidance) regarding the transfer of energy transition tax credits under Section 6418, which...more
6/23/2023
/ Anti-Abuse Rule ,
Compliance ,
Energy Tax Incentives ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
IRS ,
New Guidance ,
Production Tax Credit ,
Proposed Regulation ,
S-Corporation ,
U.S. Treasury
On May 31, 2023, the Treasury Department and the Internal Revenue Service (IRS) released Notice 2023-44 (the Notice). The Notice provides additional guidance for the new program under Section 48C(e) created by the Inflation...more
6/15/2023
/ Anti-Stacking Provisions ,
APEC ,
Applications ,
Coal Mines ,
Department of Energy (DOE) ,
Guidance Update ,
Inflation Reduction Act (IRA) ,
Infrastructure ,
IRS ,
Notice Requirements ,
U.S. Treasury
The domestic content bonus credit (the DC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy and storage projects constructed with sufficient...more
5/30/2023
/ Applications ,
Department of Energy (DOE) ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Production Tax Credit ,
Safe Harbors ,
Steel Industry ,
Tax Credits ,
U.S. Treasury
On May 4, 2023, the US Environmental Protection Agency (EPA) published its proposal to approve revision of Louisiana’s Safe Drinking Water Act (SDWA) Underground Injection Control (UIC) program to add Class VI injection well...more
On April 10, 2023, the Treasury Department and the Internal Revenue Service (IRS), without a formal announcement, released a revised version of Notice 2023-29 (the Revised Notice) on the IRS website. The Treasury Department...more
The energy community bonus credit (the EC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides a bonus credit for projects located in Energy Communities. The EC Bonus is available for...more
The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy projects located in designated low-income...more
4/12/2023
/ Affordable Housing ,
Department of Energy (DOE) ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Low Income Housing ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
U.S. Treasury
On February 13, 2023, the Treasury Department and the Internal Revenue Service (the IRS) released Notice 2023-18 (the Notice), which established the program (the Allocation Program) to allocate $10 billion of advanced energy...more
2/28/2023
/ American Recovery and Reinvestment Act ,
Anti-Stacking Provisions ,
Department of Energy (DOE) ,
Energy Sector ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Renewable Energy ,
Supply Chain ,
Tax Credits ,
U.S. Treasury
On December 19, 2022, the Treasury Department and the IRS released Notice 2023-6 (the Notice), which provides guidance with respect to the credit for sustainable aviation fuel (SAF). The Inflation Reduction Act of 2022 (the...more
1/19/2023
/ ASTM ,
Carbon Offset and Reduction Scheme for International Aviation (CORSIA) ,
Compliance ,
Fuel Standards ,
Greenhouse Gas Emissions ,
ICAO ,
Inflation Reduction Act (IRA) ,
IRS ,
New Guidance ,
Sustainability ,
U.S. Treasury
On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage requirements (the Prevailing Wage...more
12/5/2022
/ Carbon Capture and Sequestration ,
Clean Energy ,
Construction Industry ,
Energy Tax Incentives ,
Federal Register ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Interim Guidance ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Prevailing Wages ,
Production Tax Credit ,
Recordkeeping Requirements ,
U.S. Treasury