News & Analysis as of

Internal Revenue Service Safe Harbors

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.  
Bricker Graydon LLP

You May be Able to Increase Health Plan Premiums and Stay Affordable in 2025

Bricker Graydon LLP on

For the first time in four years, the IRS adjusted the affordability percentage used for the shared responsibility penalties. The IRS recently announced that the affordability percentage for 2025 will be 9.02%....more

Seyfarth Shaw LLP

Major SECURE 2.0 Guidance Issued: Extra Credit for Repaying Qualified Student Loans

Seyfarth Shaw LLP on

Seyfarth Synopsis: On August 19, 2024, the IRS issued Notice 2024-63 (the “Notice”) providing guidance for plan sponsors that wish to provide matching contributions based on eligible student loan repayments made by...more

Holland & Knight LLP

Eyes on Energy Tax Update: Second Quarter 2024

Holland & Knight LLP on

Eyes on Energy Tax Update is a regular publication of the Holland & Knight Renewable and Alternative Energy Tax Team that provides highlights of important developments. The Renewable and Alternative Energy Tax Team also...more

Fenwick & West LLP

Treasury’s Crypto Tax Reporting Rules Defer on DeFi

Fenwick & West LLP on

On June 28, 2024, the U.S. Treasury Department and the Internal Revenue Service (IRS) issued final broker reporting regulations that mandate broker reporting for centralized exchanges and hosted wallet providers, providing...more

Latham & Watkins LLP

IRS Safe Harbor Eases Path for Domestic Content Bonus Tax Credits

Latham & Watkins LLP on

IRS Notice 2024-41 provides taxpayers with a clearer path toward qualifying for domestic content bonus tax credits through a new elective safe harbor....more

Holland & Knight LLP

Breaking Down the New Domestic Content Safe Harbor Guidance

Holland & Knight LLP on

The IRS issued Notice 2024-41 on May 16, 2024, which provides updated guidance regarding the domestic content bonus credit under Sections 45, 48, 45Y and 48E of the Internal Revenue Code. The new notice modifies previously...more

Cozen O'Connor

An Energy/Production Credit Boost – IRS Issues Notice With Safe Harbor for Domestic Content

Cozen O'Connor on

The Internal Revenue Service (IRS) issued Notice 2024-41 on May 16, 2024. Notice 2024-41 guides taxpayers on qualifying for increased renewable energy tax credits. To qualify for this credit increase, a taxpayer must satisfy...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release New Safe Harbor Election for Domestic Content Bonus Credits

On May 16, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released Notice 2024-41 (the Notice), providing further guidance on domestic content bonus credit amounts applicable under...more

Troutman Pepper

Treasury and IRS Issue Additional Domestic Content Guidance Under IRA and New Elective Safe Harbor

Troutman Pepper on

On May 16, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-41, which modifies Notice 2023-38 (Prior Guidance) by expanding the list of Applicable Projects (defined below) to...more

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

Miller Canfield

US Issues Final Regulations on FEOC Exclusions from Clean Vehicle Credit

Miller Canfield on

On May 6, 2024, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) published final regulations (Final Regulations) regarding clean vehicle tax credits under Internal Revenue Code sections 25E...more

McDermott Will & Emery

The Domestic Content Bonus Credit’s Promising New Safe Harbor

McDermott Will & Emery on

On May 16, 2024, the Internal Revenue Service (IRS) published Notice 2024-41 (Notice), which modifies Notice 2023-38 (Prior Notice) by providing a new elective safe harbor (Safe Harbor) that will allow taxpayers to use...more

DarrowEverett LLP

New Domestic Content Adder Guidance: ‘Buy American’ is Back

DarrowEverett LLP on

On May 16, 2024, the Department of the Treasury and the IRS announced the release of Notice 2024-41, which clarifies the safe harbor for classification of project components created in Notice 2023-38 and provides a new safe...more

Bradley Arant Boult Cummings LLP

Inflation Reduction Act Domestic Content Bonus Update: IRS Issues Updated Guidance with New Elective Safe Harbor

On May 16, 2024, the IRS released Notice 2024-41 (the “Notice”), modifying its preliminary guidance issued last May in Notice 2023-38 addressing the application of potential future rules that taxpayers must satisfy to qualify...more

Holland & Hart LLP

Usable Domestic Content Safe Harbor Issued

Holland & Hart LLP on

On May 16, 2024, the IRS released Notice 2024-41, which modifies the previously issued Notice 2023-38, to provide a new safe harbor for qualifying for the “domestic content” addition to the federal production or investment...more

Vinson & Elkins LLP

Domestic Content Safe Harbor Released

Vinson & Elkins LLP on

On May 16, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued Notice 2024-41 (the “Notice”), which provides supplemental guidance on the domestic content bonus credit...more

Holland & Knight LLP

IRS Releases Additional Domestic Content Bonus Credit Guidance

Holland & Knight LLP on

The IRS on May 16, 2024, released Notice 2024-41, which modifies the existing domestic content safe harbor in Notice 2023-38. Importantly, Notice 2024-41...more

Stoel Rives LLP

Treasury Provides New Safe Harbor for Domestic Content Bonus Credit

Stoel Rives LLP on

The U.S. Department of the Treasury (Treasury) today released Notice 2024-41, Domestic Content Bonus Credit Amounts under the Inflation Reduction Act of 2022: Expansion of Applicable Projects for Safe Harbor in Notice 2023-38...more

Troutman Pepper

Treasury and IRS Release Further Guidance on Energy Community Enhancements Under IRA

Troutman Pepper on

On March 22, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-30, which modifies prior guidance on the energy community enhancements. It further clarifies (a) when offshore...more

Mayer Brown

United States: The Long Read - Lifetime Income Products in CITs on the Rise

Mayer Brown on

As recently noted by the US Department of Labor (“DOL”), since the passage of the Employee Retirement Income Security Act of 1974 (“ERISA”), “the retirement plan landscape has changed significantly, with a shift from defined...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

DOJ Official Cites Old West ‘WANTED’ Posters in Announcement of New Whistleblower Monetary Awards Program

On March 7, 2024, Deputy Attorney General Lisa Monaco said that the U.S. Department of Justice (DOJ) will test out a program to pay whistleblowers if they provide information on serious financial crimes and foreign and...more

Sullivan & Worcester

Enabling REITs to Deploy Renewable Energy: Toward a Workable Legal Standard

Sullivan & Worcester on

When Treasury promulgated Treasury Decision 9784, I.R.B 2016-39 nearly a decade ago, the net metering renewable energy safe harbor (Section XI “Renewable Energy”, Subsection A) was welcome guidance that was fit for the time...more

Davis Wright Tremaine LLP

SECURE 2.0 Medley – IRS and DOL Guidance for Plan Sponsors on Recent Changes

The Internal Revenue Service and U.S. Department of Labor recently issued guidance on various aspects of the Consolidated Appropriations Act of 2023, commonly referred to as SECURE 2.0. Below is a summary of key provisions...more

Holland & Knight LLP

IRS Issues Notice 2024-2 Outlining Guidance on SECURE 2.0 Provisions

Holland & Knight LLP on

The IRS issued Notice 2024-2 (Notice), which provides guidance in a question and answer format concerning certain provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0). The following is a brief overview of key provisions in...more

Miller Canfield

IRS Issues Grab Bag Notice Addressing Various SECURE 2.0 Provisions

Miller Canfield on

The IRS recently issued Notice 2024-02— dubbed the “Grab Bag Notice”— which addresses multiple provisions in SECURE 2.0. The guidance is 81 pages long, comes in the form of frequently asked questions and answers, and speaks...more

582 Results
 / 
View per page
Page: of 24

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide