Final Rules Address Eligibility and Process; Proposed Rules Provide Workaround Allowing Tax Exempts to Partner With Others on Projects - The Department of Treasury (Treasury) and the Internal Revenue Service (IRS) recently...more
Overview - On Monday, 11 March 2024, the Biden administration released the president’s budget request (PBR) for fiscal year 2025 (FY2025), as well as the “Greenbook” containing explanations of the various revenue proposals in...more
3/25/2024
/ Biden Administration ,
Capital Gains ,
Excise Tax ,
Federal Budget ,
GILTI tax ,
Green Book ,
Inflation Reduction Act (IRA) ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Incentives ,
Tax Policy
Members of the K&L Gates Hydrogen, Power, Tax, and Tax Policy teams speak with Sandi Safro Osborn, Assistant General Counsel of the Edison Electric Institute, about the proposed regulations the Treasury Department and...more
1/18/2024
/ Energy Projects ,
Energy Sector ,
Energy Tax Incentives ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Renewable Energy Incentives ,
Tax Credits
On 22 December 2023, the US Treasury Department (Treasury) released the highly anticipated Proposed Regulations relating to the Clean Hydrogen Production Credit (hydrogen credit) under the US Internal Revenue Code of 1986, as...more
On 1 June 2023, the US Department of the Treasury (Treasury) and Internal Revenue Service (IRS) issued a notice of proposed rulemaking (NOPR) regarding the Low-Income Communities Bonus Credit Program (Program) established...more
Introduction - On 12 May 2023, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released guidance for the domestic content bonus credit under Sections 45, 45Y, 48, and 48E of the Internal...more
On 16 August 2022, President Joe Biden signed the Inflation Reduction Act of 2022 (IRA). While not as expansive as the Build Back Better Act, the IRA has the potential to dramatically accelerate the energy transition in the...more
In this episode Judith Rinearson interviews Mary Baker and Daniel Cohen about the major changes in the U.S. beyond COVID-19 since the election, focusing on the establishment of the new U.S. administration and the initiatives...more
5/13/2021
/ Banking Sector ,
Biden Administration ,
Carbon Capture and Sequestration ,
Cryptocurrency ,
FinTech ,
Information Technology ,
IRS ,
Legislative Agendas ,
Payment Systems ,
Popular ,
Tax Credits
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
Amid the headline-grabbing events of 6 January 2021, the U.S. Department of Treasury released final regulations under Code1 Section 45Q. Code Section 45Q provides for a U.S. federal income tax credit at varying rates to...more
On 21 December 2020, the shortest day of the year in North America, the U.S. Congress passed a historic stimulus package. Among its more than 5000 pages, the bill includes important, if not quite historic, clean...more
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
There is little doubt that the outcome of the 3 November federal election will be consequential for much of America, and that the consequences are likely to be very different depending on who sits in the Oval Office and the...more
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
This guide outlines the tax provisions contained in the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), and certain related notices issued by the...more
The recently passed Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) provides a tax credit for eligible employers to encourage them to continue paying employees. The benefit allows a fully refundable tax...more
The Senate Finance Committee has launched a new effort to consider the fate of dozens of temporary tax provisions (or “extenders”) that have expired in recent years, as well as other provisions slated to expire in 2019 and...more
On November 2, 2017, we alerted taxpayers that the House Ways and Means Committee had unveiled its much anticipated tax reform bill titled the “Tax Cuts and Jobs Act” (the “House Plan”). The House Plan includes substantial...more
On November 2, 2017, the House Ways and Means Committee unveiled its much anticipated tax reform bill titled the “Tax Cuts and Jobs Act” (the “House Plan”). The House Plan is a significant step by Republican lawmakers to...more
On February 26, 2014, House Ways and Means Committee Chairman Dave Camp (R-MI) unveiled his comprehensive tax reform proposal. Chairman Camp released his proposal in discussion draft form, and the bill was not officially...more