The IRS on May 23, 2025, released 2025 production tax credit (PTC) amounts under Section 45 of the Internal Revenue Code. The guidance provides that: Section 45 allows a renewable energy PTC for generating electricity from...more
The U.S. House of Representatives passed the "One Big Beautiful Bill" on May 22, 2025, by a vote along party lines. The bill will now be taken up by the U.S. Senate. This Holland & Knight alert summarizes certain key...more
The IRS issued Notice 2025-08 on Jan. 16, 2025, which provides updated guidance regarding the domestic content requirements under Sections 45, 48, 45Y and 48E of the Internal Revenue Code – the investment tax credits and...more
The U.S. Department of the Treasury and IRS on Dec. 12, 2024, issued Final Regulations regarding the investment tax credit (ITC) for Section 48 of the Internal Revenue Code, including the ITC for energy generation, energy...more
1/10/2025
/ Clean Energy ,
Energy Sector ,
Energy Storage ,
Final Rules ,
Inflation Reduction Act (IRA) ,
Interconnections ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Popular ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The U.S. Department of the Treasury and IRS on Jan. 3, 2025, released final regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the Inflation...more
1/3/2025
/ Department of Energy (DOE) ,
Final Rules ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Tax Credits ,
U.S. Treasury
The IRS on July 24, 2024, released Notice 2024-60, which provides Section 45Q guidance for utilization of carbon dioxide and other carbon oxides. The Notice addresses the information that must be included in the required life...more
8/12/2024
/ Administrative Review ,
Carbon Capture and Sequestration ,
Clean Air Act ,
Department of Energy (DOE) ,
Energy Sector ,
Greenhouse Gas Emissions ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Reporting Requirements ,
Tax Credits
Eyes on Energy Tax Update is a regular publication of the Holland & Knight Renewable and Alternative Energy Tax Team that provides highlights of important developments. The Renewable and Alternative Energy Tax Team also...more
8/8/2024
/ Alternative Fuels ,
Aviation Industry ,
Energy Efficiency ,
Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
NPRM ,
Production Tax Credit ,
Rebates ,
Renewable Energy ,
Safe Harbors ,
Tax Credits ,
U.S. Treasury
The U.S. Department of the Treasury and IRS on Feb. 16, 2024, released a correction to Internal Revenue Code Section 48 Proposed Regulations relating to the new investment tax credit (ITC) for biogas. The correction provides...more
2/20/2024
/ Biomass ,
Heavy Equipment ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Landfills ,
Natural Gas ,
Pipelines ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
Eyes on Energy Tax Update is a quarterly publication of the Holland & Knight Renewable and Alternative Energy Tax Team that provides highlights of important developments. The Renewable and Alternative Energy Tax Team also...more
1/22/2024
/ Aviation Industry ,
Department of Energy (DOE) ,
Electric Vehicles ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Proposed Regulation ,
Renewable Fuel ,
Sustainability ,
Tax Credits ,
U.S. Treasury ,
Zero-Emission Vehicles
The U.S. Department of the Treasury and IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the Inflation...more
12/22/2023
/ Department of Energy (DOE) ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Proposed Regulation ,
U.S. Treasury ,
White Papers
The U.S. Department of the Treasury and IRS on Nov. 17, 2023, released long-awaited proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code. Section...more
11/28/2023
/ Apprenticeships ,
Biomass ,
Emerging Technologies ,
Energy Projects ,
Energy Storage ,
Energy Tax Incentives ,
Geothermal Energy ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Popular ,
Power Purchase Agreements ,
Prevailing Wages ,
Proposed Regulation ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
Wind Power
The U.S. Department of the Treasury on Nov. 17, 2023, issued proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code (Code) that, following passage...more
11/21/2023
/ Alternative Fuels ,
Apprenticeships ,
Comment Period ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Prevailing Wages ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The U.S. Department of the Treasury (Treasury Department) and Internal Revenue Service (IRS) released much-anticipated guidance in the form of two notices of proposed rulemaking (NOPRs) regarding the direct payment of tax...more
6/27/2023
/ Energy Sector ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
NPRM ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
Temporary Regulations ,
Transfer of Interest ,
U.S. Treasury
The IRS on June 15, 2023, updated its energy community bonus guidance by issuing Notice 2023-45 and Notice 2023-47. The IRS also recently issued energy community bonus guidance in Notice 2023-29. (For a summary of Notice...more
The U.S. Department of the Treasury and IRS on June 14, 2023, released two notices of proposed rulemaking (NOPRs) regarding the direct payment of tax credits under Section 6417 of the Internal Revenue Code (Elective Payment...more
6/15/2023
/ Carbon Capture and Sequestration ,
Clean Energy ,
Energy Projects ,
Energy Sector ,
Environmental Social & Governance (ESG) ,
Federal Funding ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
NPRM ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Transfer of Interest ,
Tribal Governments ,
U.S. Treasury
The U.S. Department of the Treasury and IRS on May 31, 2023, released a Notice of Proposed Rulemaking (NPRM) regarding the low-income community bonus credit under Section 48 of the Internal Revenue Code. The NPRM requests...more
Following the release of energy community bonus credit and low-income community bonus credit guidance, the U.S. Department of the Treasury and IRS recently provided taxpayers with the domestic content bonus credit guidance....more
5/18/2023
/ Energy Sector ,
Energy Storage ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Made in the USA ,
Manufacturers ,
Production Tax Credit ,
Renewable Energy ,
Safe Harbors ,
Solar Energy ,
Steel Industry ,
Tax Credits ,
U.S. Treasury ,
Wind Power