On May 29, 2024, the Internal Revenue Service (IRS) and the Department of Treasury issued proposed regulations (REG-119283-23) addressing the new technology neutral clean electricity production tax credit (PTC) in section 45Y...more
On May 16, 2024, the Internal Revenue Service (IRS) issued further guidance (Notice 2024-41, the Additional Notice) intended to provide clarity and certainty surrounding the domestic content1 bonus credit by (among other...more
2023 saw two megadeals in the oil & gas industry that have led to calls from environmental interest groups for the FTC to intervene despite a lack of obvious antitrust issues. Whether the FTC will sue to block the deals...more
The past 12 months have been some of the trickiest to navigate for oil & gas companies in recent memory. Despite high energy prices and record cashflows, there is still uncertainty about what future paths to growth might look...more
12/21/2023
/ Acquisitions ,
Capital Raising ,
Energy Sector ,
FERC ,
Financing ,
Investment ,
Mergers ,
Oil & Gas ,
Private Equity ,
Regulatory Agenda ,
Renewable Energy
On December 1, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations (REG-118492-23) with additional guidance on the excluded entities provision in the section 30D clean...more
12/7/2023
/ Clean Energy ,
Compliance ,
Department of Energy (DOE) ,
Electric Vehicles ,
Foreign Entities ,
IRS ,
Proposed Regulation ,
Regulatory Agenda ,
Tax Credits ,
Tax Planning ,
U.S. Treasury
A reasonable analysis of the Buy America standards for manufactured products would have resulted in the qualified facility or energy project being treated as the end product. One would then check to see if the components of...more
The Internal Revenue Service (IRS) released its initial guidance (the Advanced Energy Project (AEP) Notice, Notice 2023-18) establishing procedures for taking advantage of the renewed and expanded qualifying advanced energy...more
The Internal Revenue Service (IRS) released its eagerly-anticipated guidance (the PWA Notice) regarding the prevailing wage and apprenticeship requirements under the Inflation Reduction Act (IRA). The publication of the PWA...more
On November 1, USTR released a comment form prescribing the submission format for public comments in the “necessity review” process for the Section 301 China tariffs. USTR first announced the public comment phase of the...more
On October 5, 2022, the Department of Treasury and Internal Revenue Service (IRS) released six Notices requesting comments on anticipated regulations and other guidance under various climate and clean energy incentives...more
Key Points-
For the first time, the Supreme Court has invoked explicitly the “major questions doctrine”—which requires Congress to speak clearly when authorizing agency action in certain extraordinary cases—to strike...more
On Monday, April 18, 2022, Reps. Vern Buchanan (R-FL), Mike Kelly (R-PA) and Brad Wenstrup (R-OH)—all Republican Members of the House Committee on Ways & Means—reintroduced several pieces of legislation meant to secure...more
Key Points -
The Department of Commerce initiated a Section 232 national security investigation into NdFeB permanent magnets, which are used in fighter aircraft, missile guidance systems, electric vehicles, wind...more
- Both chambers of Congress have passed the Paycheck Protection Program Flexibility Act of 2020. The bill now heads to President Trump’s desk for his signature.
- The measure extends the Paycheck Protection Program loan...more
6/5/2020
/ Borrowers ,
Business Expenses ,
CARES Act ,
Loan Forgiveness ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Safe Harbors ,
Small Business ,
Small Business Loans
On March 25, 2020, the U.S. Senate released final text of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748) to provide emergency economic assistance to those affected by the novel coronavirus...more
3/30/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Federal Taxes ,
Financial Stimulus ,
Income Taxes ,
IRS ,
Net Operating Losses ,
Payroll Taxes ,
Tax Code ,
Tax Credits ,
Tax Deductions ,
Tax Relief
The results of the U.S. presidential election are historic and unanticipated, and they will have significant economic, political, legal and social implications. As we prepare for the Trump presidency, many uncertainties...more
11/17/2016
/ Antitrust Provisions ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Energy Sector ,
Environmental Policies ,
Foreign Policy ,
Health Insurance ,
Immigration Enforcement ,
Tax Reform ,
Trade Policy ,
Trump Administration
If you only read one thing...
- Expect 2016 to be relatively quiet with respect to tax-related legislation; however, much policy activity—in the tax-writing committees, the Treasury Department and on the...more
Tuesday night, Speaker Paul Ryan (R-WI) and other congressional leaders released a proposed legislative compromise that would fund the government through September 30, 2016, extend tax credits for solar and wind projects and...more
If you read one thing...
- Congress’ tax and budget challenges include funding the government for FY 2016 and a required federal debt ceiling increase to avoid catastrophic default on the nation’s debt. These legislative...more
9/9/2015
/ Affordable Care Act ,
Cadillac Tax ,
Debt Ceiling ,
Federal Aviation Administration (FAA) ,
Federal Budget ,
Federal Funding ,
Federal Highway Administration ,
Social Security Disability ,
Tax Extenders ,
Tax Revenues ,
Trans-Pacific Partnership
The new 114th Congress has now convened, and speculation is widespread as to the tax legislative agenda for 2015. Republicans now control both houses of Congress, and new chairmen are in place in leadership roles of both...more
On January 14, the Obama administration announced plans to reduce methane emissions from new and modified oil and gas operations as part of the president’s strategy to address climate change. The plan does not, however,...more
Today, the chairman of the Senate Finance Committee, Max Baucus (D-MT), released his proposal for energy tax incentives as part of overall tax reform. The proposal is thoughtful and merits serious consideration by the...more
12/19/2013
/ Energy Sector ,
Energy-Efficiency Tax Credits ,
Greenhouse Gas Emissions ,
Investment Tax Credits ,
Master Limited Partnerships ,
Production Tax Credit ,
Renewable Energy ,
Solar Energy ,
Tax Incentives ,
Tax Reform ,
Wind Power
On September 20th, the IRS in Notice 2013-60 clarified three critical issues in its guidance as to whether a wind project (or other type production tax credit (PTC) eligible project) is considered to have “started...more