The Inflation Reduction Act of 2022 (IRA) extended and modified a federal investment tax credit for advanced energy manufacturing projects under Section 48C of the Code. Section 48C provides incentives for clean energy...more
On August 16, 2022, the Department of Treasury released initial guidance on the electric vehicle (EV) tax credits for individuals that were modified by the recently enacted Inflation Reduction Act (IRA). The guidance includes...more
The U.S. Department of the Treasury and IRS recently issued final regulations regarding carbon capture tax credits under section 45Q of the Internal Revenue Code, which amend and clarify the proposed regulations issued last...more
On May 28, 2020, the IRS issued proposed regulations regarding carbon capture tax credits under Section 45Q of the Internal Revenue Code. The proposed regulations provide rules on secure geological storage, credit recapture,...more
On Feb. 20, 2020, the IRS issued Notice 2020-12 and Revenue Procedure 2020-12 regarding carbon capture tax credits (IRC Section 45Q). Notice 2020-12 (the begin construction notice) provides guidance to determine when...more
2/25/2020
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