On November 3, 2022, the U.S. Internal Revenue Service (IRS) issued three additional notices requesting public input on key aspects of climate and clean energy tax provisions in the Inflation Reduction Act. Here is list of,...more
President Biden signed the Inflation Reduction Act of 2022 (IRA) into law on Tuesday, August 16, 2022. Among other things, the IRA expands the federal tax credits available to promote renewable energy and revises the...more
On July 1, 2021, the US Internal Revenue Service (the “IRS”) released Revenue Ruling 2021-13 (the “Ruling”), which provides additional guidance on the definition of “carbon capture equipment” for purposes of the carbon...more
On July 1, 2021, the US Internal Revenue Service (the “IRS”) released Revenue Ruling 2021-13 (the “Ruling”), which provides additional guidance on the definition of “carbon capture equipment” for purposes of the carbon...more
The American Jobs Plan -
On March 31, 2021, the Biden administration released the American Jobs Plan (the “Infrastructure Plan”), which is a proposal that, if ultimately enacted, aims to modernize outdated infrastructure,...more
4/6/2021
/ Biden Administration ,
Carbon Capture and Sequestration ,
Climate Change ,
Electric Vehicles ,
Energy Policy ,
Infrastructure ,
Investment Tax Credits ,
Oil & Gas ,
Orphan Wells ,
Power Grid ,
Production Tax Credit ,
Tax Reform
On January 6, 2021, the US Internal Revenue Service (the “IRS”) issued final regulations (T.D. 9944) (the “Final Regulations”) on the Section 45Q carbon capture tax credit (the “Carbon Credit”). The Final Regulations...more
1/12/2021
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
Critical Infrastructure Sectors ,
Energy Projects ,
Greenhouse Gas Emissions ,
Internal Revenue Code (IRC) ,
Investors ,
IRS ,
Revenue Procedures ,
Tax Credits ,
Tax Planning ,
Urban Planning & Development
On Monday, December 21, 2020, the United States Congress passed a second large stimulus bill (the “Relief Bill”) aimed at curtailing the economic disruptions caused by COVID-19. ...more
1/7/2021
/ Carbon Capture and Sequestration ,
Clean Energy ,
Energy Projects ,
Energy Tax Incentives ,
Investment Tax Credits ,
Production Tax Credit ,
Renewable Energy ,
Renewable Energy Incentives ,
Solar Energy ,
Tax Credits ,
Wind Power
The IRS yesterday released final regulations under Section 45Q regarding the carbon capture tax credit....more
Last night, Congressional leaders announced an agreement on a $900 billion COVID relief bill. While the text of the bill has not been released as of this writing, people familiar with the negotiations have indicated that the...more
12/21/2020
/ Biofuel ,
Carbon Capture and Sequestration ,
Coronavirus/COVID-19 ,
Electric Vehicles ,
Energy Projects ,
Energy Tax Incentives ,
Financial Stimulus ,
Infectious Diseases ,
Infrastructure ,
Investment Tax Credits ,
Production Tax Credit ,
Relief Measures ,
Renewable Energy ,
Renewable Energy Incentives ,
Solar Energy ,
Wind Power
Treasury and the IRS have issued proposed regulations on the revised carbon capture credit under Section 45Q....more