The United States Senate Committee on Finance this afternoon released draft text of its version of the “One Big Beautiful Bill,” which is available here. Although we are continuing to review the draft legislation, at a high...more
6/17/2025
/ Energy Policy ,
Energy Tax Incentives ,
Federal Funding ,
Investment Tax Credits ,
Legislative Agendas ,
Production Tax Credit ,
Proposed Legislation ,
Renewable Energy ,
Solar Energy ,
Tax Credits ,
Wind Power
May 12th, the House Ways and Means Committee released a package of tax provisions (the “Bill”) that includes claw backs of certain provisions of the Inflation Reduction Act. Note that this Bill is a draft only, has not been...more
Share on Twitter Print Share by Email Share Back to top Last week, the Internal Revenue Service (“IRS”) and Department of the Treasury issued the highly anticipated final regulations for the Clean Electricity Production Tax...more
1/17/2025
/ Energy Sector ,
Energy Storage ,
Final Rules ,
Greenhouse Gas Emissions ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The Internal Revenue Service (“IRS”) and Department of the Treasury last week released final regulations (the “Final Regulations”) relating to investment tax credits under Section 48 of the (the “ITC”) of the Internal Revenue...more
12/13/2024
/ Applications ,
Apprenticeships ,
Energy Projects ,
Energy Storage ,
Final Rules ,
Interconnections ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Proposed Regulation ,
U.S. Treasury
The Internal Revenue Service (“IRS”) and Department of the Treasury last week released final regulations (the “Final Regulations”) relating to the advanced manufacturing production tax credit under Section 45X (“45X Credits”)...more
Late last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released final regulations relating to transfers of certain tax credits pursuant to Section 6418 of the Code (the “Code” and, such rules, the...more
The Internal Revenue Service (“IRS”) and Department of the Treasury earlier this week released final regulations relating to direct cash payments for certain tax credits pursuant to Section 6417 of the Internal Revenue Code...more
Last week, the Internal Revenue Service (“IRS”) and Department of the Treasury published proposed regulations (the “Proposed Regulations”) relating to the tax credit for production of clean hydrogen under Section 45V of the...more
12/29/2023
/ Anti-Abuse Rule ,
Apprenticeships ,
Compliance ,
Department of Energy (DOE) ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Internal Revenue Code (IRC) ,
IRS ,
Low Carbon Fuel Standard ,
Prevailing Wages ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Fuel Standard ,
U.S. Treasury ,
Verification Requirements
Earlier this month, the Internal Revenue Service (“IRS”) and Department of the Treasury released proposed regulations (the “Proposed Regulations”) relating to the advanced manufacturing tax credit under Section 45X of the...more
The Internal Revenue Service on Friday opened the registration portal for taxpayers selling eligible tax credits, including investment tax credits and production tax credits. The portal also permits tax-exempt and other...more
The Internal Revenue Service today released much anticipated proposed regulations with respect to the Section 45V tax credit for the production of clean hydrogen, which we expect will generate significant comments. The Foley...more
Late last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released the long-awaited proposed regulations (the “Proposed Regulations”) relating to investment tax credits under Section 48 of the Code...more
11/21/2023
/ Apprenticeships ,
Batteries ,
Energy Storage ,
Geothermal Energy ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Production Tax Credit ,
Proposed Regulation ,
Reporting Requirements ,
Solar Energy
The Internal Revenue Service (IRS) and Department of the Treasury earlier this month released final regulations (the “Low-Income Community Bonus Credit Rules”) relating to the low-income community bonus credit pursuant to...more
The Internal Revenue Service (“IRS”) and Department of the Treasury earlier this week released extensive proposed regulations relating to direct cash payments for certain tax credits pursuant to Section 6417 of the Internal...more
On May 12, 2023, the IRS and the Department of the Treasury issued highly anticipated guidance regarding the requirements to satisfy the domestic content bonus tax credit provisions for investment tax credits under Sections...more
On April 4, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2023-29 (the “Notice”) providing a high-level overview of the rules they intend to include in...more
4/5/2023
/ ASTM ,
Brownfield Properties ,
CERCLA ,
Coal Industry ,
Energy Information Association (EIA) ,
Energy Sector ,
Environmental Site Assessment ,
Fossil Fuel ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Proposed Regulation ,
Tax Revenues ,
U.S. Treasury
On February 13, 2023, the Department of Treasury and the Internal Revenue Service released Notice 2023-17, providing a high-level overview of the program to be established under Section 48(e) of the Internal Revenue Code (the...more
On November 30, 2022, the Department of the Treasury and the Internal Revenue Service published Notice 2022-61 (the “Guidance”) describing how to satisfy certain prevailing wage and apprenticeship requirements (the “PWA...more
On August 12, 2022, the House of Representatives passed the Inflation Reduction Act of 2022 (the “Act”), which the Senate passed on August 7, 2022. President Biden has indicated that he will sign the Act into law....more
The Biden Administration has proposed the creation of a new tax credit under the new Section 48D of the Code for qualifying electric power transmission property that is placed in service after December 31, 2021, but before...more
On June 29th, the IRS released Notice 2021-41 (which may be found here), which retroactively extends the Continuity Safe Harbor to six years. This follows the release of Notice 2020-41 (discussed here) on May 27, 2020, which...more
The IRS has released Notice 2021-05, which extends the Continuity Safe Harbor detailed in Notice 2018-59 from 4 years to 10 years for offshore wind projects and renewable energy projects constructed on federal land. As such,...more
Congress has extended and expanded renewable energy tax benefits as part of the comprehensive COVID relief bill passed on December 21, 2020 and now awaiting President Trump’s signature. The relief bill passed by large...more
Due to supply chain disruptions related to the COVID-19 pandemic, the IRS released Notice 2020-41 (the “Notice”), which grants two beginning construction-related extensions for renewable energy projects that produce...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was signed by the President on March 27, 2020, includes several provisions affecting taxes.
SEC. 2201. 2020 Recovery Rebates for Individuals...more
3/30/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance