News & Analysis as of

Internal Revenue Service Guidance Update Production Tax Credit

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Akin Gump Strauss Hauer & Feld LLP

IRS Updates PTC and ITC Domestic Content Bonus Guidance

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

Holland & Knight LLP

IRS Issues Updated Energy Community Bonus Guidance

Holland & Knight LLP on

The IRS on June 15, 2023, updated its energy community bonus guidance by issuing Notice 2023-45 and Notice 2023-47. The IRS also recently issued energy community bonus guidance in Notice 2023-29. (For a summary of Notice...more

Akin Gump Strauss Hauer & Feld LLP

Treasury Updates Guidance Issued Last Week on 'Energy Community' Tax Credit Adders

Summary - On April 4, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released guidance on the “energy community” tax credit adders (EC Adders) that were added under the Inflation Reduction Act...more

Vinson & Elkins LLP

Treasury Issues IRA Guidance on Energy Communities

Vinson & Elkins LLP on

On April 4, 2023, the Department of Treasury (the “Treasury”) and Internal Revenue Service (the “IRS”) issued Notice 2023-29 (the “Notice”) providing guidance on the energy community bonus credit available under sections 45,...more

King & Spalding

H2ypothetical: Qualified Fuel Cell Property

King & Spalding on

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the Act). The Act includes multiple tax benefits for hydrogen production, storage and utilization, summarized in the following King & Spalding...more

Eversheds Sutherland (US) LLP

IRS Further Updates Beginning of Construction Guidance for Renewable Energy Tax Credits

On December 15, 2016, the Internal Revenue Service (IRS) issued Notice 2017-04, which updates prior guidance regarding the beginning of construction requirement for renewable energy tax credits under IRC sections 45 and 48. ...more

Stoel Rives LLP

IRS Updates “Beginning of Construction” Guidance

Stoel Rives LLP on

The IRS today issued highly anticipated guidance updating the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code (the Code) and the investment tax credit...more

McDermott Will & Emery

IRS Issues Additional Guidance on Beginning of Construction Rules for Renewable Projects

McDermott Will & Emery on

The Internal Revenue Service (IRS) issued Notice 2015-25 (Notice) on March 11, 2015, to provide further guidance on meeting the beginning of construction requirements for wind and other qualified facilities (biomass,...more

Akin Gump Strauss Hauer & Feld LLP

PTC “Start of Construction” Clarifying Guidance Expected in a Week or Two

General Electric (GE) stated on its quarterly earnings call today that it expected that the clarification to the Internal Revenue Service’s (IRS) production tax credit (PTC) “start of construction” guidance would be released...more

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