News & Analysis as of

Internal Revenue Code (IRC) Final Rules Hydrogen Power

Latham & Watkins LLP

IRS Finalizes Hydrogen Tax Credit Regulations

Latham & Watkins LLP on

The final regulations adopt the general framework established in the proposed regulations issued in December 2023, but with several significant modifications....more

K&L Gates LLP

Department of the Treasury and the Internal Revenue Service Issue Final Regulations on Section 45V Clean Hydrogen Production Tax...

K&L Gates LLP on

On 3 January 2025, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations (Final Rules) implementing the Section 45V Clean Hydrogen Production Tax Credit (Section 45V tax...more

Holland & Knight LLP

Treasury Department, IRS Release Section 45V Clean Hydrogen PTC Final Regulations

Holland & Knight LLP on

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

Bracewell LLP

Treasury Department and IRS Release Final Regulations for Section 45V Clean Hydrogen Production Tax Credit

Bracewell LLP on

On January 3, 2025, the Treasury Department and the Internal Revenue Service issued final regulations under Internal Revenue Code (Code) Section 45V (the Final Regulations) with respect to credits for the production of clean...more

Vinson & Elkins LLP

Final Hydrogen Regulations Provide Multiple Paths for Production, But The Three Pillars and Other Obstacles Remain

Vinson & Elkins LLP on

On January 10, 2024, the Department of the Treasury (“Treasury”) published the final regulations governing the section 45V Clean Hydrogen Production Tax Credit (“Final Regulations”). The Final Regulations tackle many of the...more

Paul Hastings LLP

Treasury and IRS Finalize Clean Hydrogen Production Credit Regulations

Paul Hastings LLP on

The Inflation Reduction Act of 2022 added the Section 45V production tax credit for the production of clean hydrogen (Section 45V) to the Internal Revenue Code of 1986, as amended. Section 45V provides a credit against...more

King & Spalding

Treasury and IRS Issue Final Regulations Implementing Section 45V Clean Hydrogen Production Tax Credit

King & Spalding on

On January 3, 2025, the IRS and Treasury issued long-awaited final regulations (the “45V Final Regulations”) implementing the clean hydrogen production tax credit (the “45V Credit”) under Section 45V of the Internal Revenue...more

Holland & Knight LLP

Treasury Department, IRS Release Section 45V Clean Hydrogen PTC Final Regulations

Holland & Knight LLP on

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

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