Across the Board-Episode 6, will your assets be stranded?
State and local governments undertaking clean energy projects may be eligible for cash payments equal to the renewable electricity production tax credit or energy investment tax credit that would have been available to a...more
On May 31, 2023, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued Notice 2023-44 (the “Notice”), providing additional guidance on the program established under section...more
The IRS is currently in the process of implementing the Inflation Reduction Act of 2022 (IRA), which addresses energy, tax and health policy. The IRA offers, among other incentives, tax credits to an array of organizations...more
The Inflation Reduction Act of 2022 (the “IRA”) added and modified certain tax credit and deduction provisions of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). One significant addition is that taxpayers...more
Today, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) published Notice 2022-61, providing guidance on the prevailing wage requirements under Section 45(b)(7)(A) and substantially similar provisions...more
The Inflation Reduction Act of 2022 (IRA) created many new and revised tax incentives to develop clean energy projects. Among many of these incentives, Congress included a requirement that taxpayers meet prevailing wage and...more
The Internal Revenue Service (IRS) issued guidance on the prevailing wage and apprenticeship requirements under the Inflation Reduction Act (IRA) by publishing Notice 2022-61 (the Notice) in the federal register today....more
In a compromise move many months in the making, on August 7, 2022, the Senate passed a spending bill dubbed the Inflation Reduction Act of 2022, which contains provisions aimed at lowering drug prices and health care...more
In part one of a two-part series, K&L Gates’ Seattle partner and leader of the firm’s Renewable Energy Tax practice, Elizabeth Crouse, speaks with Hydrogen Rising co-host David Wochner about federal tax incentives for...more
Federal Tax Incentives for Renewable Energy and Energy Efficiency - Federal business income tax credit for renewable electricity production - A. GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business...more