On May 29, 2024, the Internal Revenue Service (IRS) and the Department of Treasury issued proposed regulations (REG-119283-23) addressing the new technology neutral clean electricity production tax credit (PTC) in section 45Y...more
On May 16, 2024, the Internal Revenue Service (IRS) issued further guidance (Notice 2024-41, the Additional Notice) intended to provide clarity and certainty surrounding the domestic content1 bonus credit by (among other...more
On December 1, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations (REG-118492-23) with additional guidance on the excluded entities provision in the section 30D clean...more
12/7/2023
/ Clean Energy ,
Compliance ,
Department of Energy (DOE) ,
Electric Vehicles ,
Foreign Entities ,
IRS ,
Proposed Regulation ,
Regulatory Agenda ,
Tax Credits ,
Tax Planning ,
U.S. Treasury
A reasonable analysis of the Buy America standards for manufactured products would have resulted in the qualified facility or energy project being treated as the end product. One would then check to see if the components of...more
2022 marked a historic year for climate change action in the Executive Branch. The Biden-Harris administration continued to deploy a “whole-of-government” approach to combating climate change, securing over $300 billion in...more
The Internal Revenue Service (IRS) released its eagerly-anticipated guidance (the PWA Notice) regarding the prevailing wage and apprenticeship requirements under the Inflation Reduction Act (IRA). The publication of the PWA...more
On October 5, 2022, the Department of Treasury and Internal Revenue Service (IRS) released six Notices requesting comments on anticipated regulations and other guidance under various climate and clean energy incentives...more
Today, President Biden signed the Inflation Reduction Act of 2022 (IRA) into law. The final IRA bill came together after more than 18 months of intra-party negotiations among Democrats about what legislative priorities to...more
The following alert provides a high level update to the August 4 Akin Gump comprehensive section-by-section report, which was published before the Senate vote-a-rama and final Senate passage. This update is being published...more
Key Points -
On August 3, 2022, Sens. Debbie Stabenow (D-MI) and John Boozman (R-AR)—the Chair and Ranking Member of the Senate Agriculture Committee—introduced the Digital Commodities Consumer Protection Act of 2022 (S....more
Sens. Joe Manchin (D-WV) and Chuck Schumer (D-NY) shocked Washington, D.C. when they announced an agreement around a budget reconciliation package that includes clean energy and health care provisions and tax reform. The...more
Key Points -
On June 7, 2022, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) released long-awaited legislation addressing the regulatory and tax treatment of digital assets. Their Responsible Financial...more
On Monday, April 18, 2022, Reps. Vern Buchanan (R-FL), Mike Kelly (R-PA) and Brad Wenstrup (R-OH)—all Republican Members of the House Committee on Ways & Means—reintroduced several pieces of legislation meant to secure...more
On March 9, 2022, President Joe Biden signed Executive Order (EO) #14067, Ensuring Responsible Development of Digital Assets, a long-awaited regulatory roadmap for executive branch agencies. In the EO, Biden directs relevant...more
As the 117th Congress moves into 2022, cryptocurrency and digital assets will continue to be an area of intense focus and discussion for both Democrats and Republicans. Member interest continues to grow in this space, with...more
[co-author: Christina Barone]
The Infrastructure Investment and Jobs Act (the “bill”) is historic bipartisan legislation that will make available $1.2 trillion in funding for infrastructure programs across the...more
On March 31, 2021, President Joe Biden unveiled the American Jobs Plan (the “Plan”), an eight-year, $2 trillion investment to modernize and improve U.S. infrastructure, generate jobs and economic growth, and promote American...more
On March 25, 2020, the U.S. Senate released final text of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748) to provide emergency economic assistance to those affected by the novel coronavirus...more
3/30/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Federal Taxes ,
Financial Stimulus ,
Income Taxes ,
IRS ,
Net Operating Losses ,
Payroll Taxes ,
Tax Code ,
Tax Credits ,
Tax Deductions ,
Tax Relief
• Public consultation follows release of OECD discussion draft on potential tax changes to address difficulties in taxation caused by the digital economy.
• OECD hopes to produce “consensus document” with proposed...more
3/12/2019
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
BEPS ,
Corporate Taxes ,
Cross-Border Transactions ,
Digital Assets ,
EU ,
GILTI tax ,
International Tax Issues ,
OECD ,
Public Consultations ,
U.S. Treasury ,
UK