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Internal Revenue Code (IRC) Hydrogen Power Prevailing Wages

Baker Botts L.L.P.

Final Regulations Issued Regarding Section 48 Investment Tax Credit

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On December 12, 2024, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) published final regulations (the “final regulations”) regarding the energy credit under Section 48 of the Internal...more

Foley & Lardner LLP

IRS Releases Proposed Regulations for Section 45V Hydrogen Production Credit

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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

Bracewell LLP

Current Year IRS Priority Guidance Plan Highlights Energy Transition

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On September 29, 2023, the Internal Revenue Service (IRS) and the Department of the Treasury (Treasury) released their 2023–2024 Priority Guidance Plan (the Plan). The Plan describes the various guidance priorities of the IRS...more

Bracewell LLP

IRS and Treasury Department Release Initial Guidance for Labor Requirements under Inflation Reduction Act

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On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage requirements (the Prevailing Wage...more

Bracewell LLP

General Overview of the Inflation Reduction Act of 2022

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On Tuesday, August 16, President Biden signed the Inflation Reduction Act of 2022 (the Act) into law, which includes material changes to various sections of the Internal Revenue Code of 1986, as amended (the Code). The...more

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