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Internal Revenue Code (IRC) Tribal Governments Tax Credits

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Proposed Regulations Provide Clarity on Tax Treatment of Entities Wholly Owned by Tribal Governments

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The U.S. Department of the Treasury and IRS issued the Proposed Regulations on Oct. 9, 2024, providing long-awaited guidance on entities wholly owned by Tribal governments and organized or incorporated exclusively under the...more

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Treasury Department and IRS Release Final Regulations on the Direct Payment of Tax Credits

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The U.S. Department of the Treasury and IRS on March 5, 2024, released final regulations regarding the direct payment of tax credits under Section 6417 of the Internal Revenue Code (Elective Payment of Applicable Credits)....more

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Treasury Department and IRS Release Direct Pay and Transferability Guidance

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The U.S. Department of the Treasury and IRS on June 14, 2023, released two notices of proposed rulemaking (NOPRs) regarding the direct payment of tax credits under Section 6417 of the Internal Revenue Code (Elective Payment...more

Bricker Graydon LLP

Inflation Reduction Act: Direct payments to nonprofits and political subdivisions for clean energy projects

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President Biden signed the Inflation Reduction Act (IRA) into law on August 16, 2022. While we all await regulatory guidance from agencies charged with implementing the IRA, one thing is abundantly clear: the IRA provides...more

Quarles & Brady LLP

IRS Issues New Guidance Related to Bonus Tax Credits for Renewable Energy Projects: Prevailing Wage Requirements and Start of...

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On November 30, 2022, the Internal Revenue Service published Notice 2022-61 in the Federal Register, providing guidance on the prevailing wage and apprenticeship requirements that, if met, entitle Indian tribal governments...more

Holland & Knight LLP

Tribal Tax Parity Legislation Gains Ground in Congress

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In the past month, members of Congress have introduced two important bills that promote parity for tribal governments and their tribal council members. The Tribal Social Security Fairness Act would allow tribal...more

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