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 earlier this month released final regulations (the “Low-Income Community Bonus Credit Rules”) relating to the low-income community bonus credit pursuant to...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
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
On December 20, 2019, the President signed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the “Act”), which extends the current production tax credit (PTC) for wind for an additional year. The Act extends the...more
1/6/2020
/ Biomass ,
Energy Projects ,
Energy Sector ,
Geothermal Energy ,
Hydropower ,
Marine Hydrokinetic (MHK) Energy ,
Offshore Wind ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
Wind Power
Recognizing that, in some situations, a plan to develop or construct a facility or energy property may raise significant national security concerns, the IRS released Notice 2019-43 (which may be found here) on July 12, 2019,...more
7/16/2019
/ Construction Industry ,
Construction Project ,
Department of Defense (DOD) ,
Energy Projects ,
Investment Tax Credits ,
National Security ,
Production Tax Credit ,
Real Estate Development ,
Renewable Energy ,
Safe Harbors ,
Tolling
The IRS recently issued Notice 2018-59 (the “Notice”) which provides clarification to “beginning of construction” for taxpayers seeking to take advantage of the section 48 renewable electricity investment tax credit (ITC) for...more
7/9/2018
/ Begun Construction Test ,
Bipartisan Budget ,
Energy Projects ,
Energy Sector ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Physical Work Test ,
Production Tax Credit ,
Renewable Energy ,
Safe Harbors ,
Wind Power
The IRS just published its annual notice that provides the inflation adjustment factors and reference prices used in determining the amount of the section 45 production tax credit (PTC) for the production of renewable energy...more
Early this morning, the House and Senate voted to pass a budget deal that included $17 billion in tax provisions, ending a short overnight government shutdown. The bill (H.R. 1892) extends the investment tax credit (ITC) to...more