News & Analysis as of

U.S. Treasury Comment Period

Holland & Knight LLP

Treasury, IRS Release Proposed Regulations Under Section 30C

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The U.S. Department of the Treasury and IRS on Sept. 18, 2024, released proposed regulations under Section 30C of the Internal Revenue Code regarding the Alternative Fuel Vehicle Refueling Property Credit. The proposed...more

Sheppard Mullin Richter & Hampton LLP

Soil and Security: The Broadening Scope of CFIUS in Real Estate Transactions

As the Committee on Foreign Investment in the United States (CFIUS) continues to expand its jurisdictional reach, investors, property owners, and landlords should be aware of a growing focus on real estate transactions....more

Cadwalader, Wickersham & Taft LLP

U.S. Treasury Proposes Regulation of U.S. Outbound Investments

On June 21, 2024, the U.S. Department of Treasury (“Treasury”) issued a notice of proposed rulemaking (“Proposed Rule”) that would regulate certain U.S. transactions with persons of a country of concern involved in the...more

Holland & Knight LLP

Treasury Department Issues Long-Awaited Proposed Rule on Outbound Investment Screening

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The U.S. Department of the Treasury's Office of Investment Security on June 21, 2024, issued a Notice of Proposed Rulemaking (Proposed Rule) implementing Executive Order (E.O.) 14105 that was announced on Aug. 9, 2023,...more

Cadwalader, Wickersham & Taft LLP

Treasury Proposes Enhancing CFIUS Enforcement Authority

On April 11, 2024, the U.S. Department of the Treasury announced a notice of proposed rulemaking that would expand the enforcement authority of the Committee on Foreign Investment in the United States (“CFIUS” or the...more

Venable LLP

CFIUS Proposes Increased Penalties for Noncompliance and Updated Mitigation and Enforcement Rules

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As the lead agency for the Committee on Foreign Investment in the United States (CFIUS or the Committee), the U.S. Department of the Treasury released new proposed rules on April 11, 2024 intended to enhance the enforcement...more

Eversheds Sutherland (US) LLP

Treasury proposes expansion of CFIUS authorities

On April 11, 2024, the US Department of the Treasury issued, for notice and comment, proposed modifications (Proposed Rule) to certain Committee on Foreign Investment in the United States (CFIUS or Committee) regulations. In...more

Holland & Knight LLP

Treasury, IRS Issue Inbound Corporation Stock Repurchase Excise Tax Proposed Regulations

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Following the release of initial guidance in the form Notice 2023-2, the U.S. Department of the Treasury (Treasury) and IRS issued proposed regulations (the Proposed Regulations) under the Section 4501 stock repurchase excise...more

Torres Trade Law, PLLC

Less Bark and More Bite? CFIUS Proposed Rule Enhancing Enforcement Capabilities

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A new proposed rule issued by the Committee on Foreign Investment in the United States (CFIUS) seeks to expand the scope of information that CFIUS can request from parties, expand its ability to monitor and investigate...more

Holland & Hart LLP

CFIUS Proposed Rule Aims to Strengthen Penalty and Enforcement Measures

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The US Department of the Treasury (Treasury), which chairs the Committee on Foreign Investment in the United States (CFIUS or the Committee), recently released a Notice of Proposed Rulemaking (NPRM) to augment certain CFIUS...more

Akin Gump Strauss Hauer & Feld LLP

CFIUS Proposes Expanded Enforcement Authorities and Increased Penalties

Key Points - On April 15, 2024, the Treasury Department published a proposed rule that would amend the Committee on Foreign Investment in the United States (CFIUS) regulations to expand CFIUS’s enforcement authorities....more

Latham & Watkins LLP

Treasury Proposes New CFIUS Regulations to Expand Monitoring and Enforcement Authorities: 5 Key Takeaways

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The proposal signals a continued effort to expand CFIUS’s enforcement scope and update penalties. On April 11, 2024, the US Department of the Treasury (Treasury) issued a Notice of Proposed Rulemaking (the Proposed Rule)...more

Holland & Knight LLP

Treasury Department, IRS Issue Additional Section 45V Clean Hydrogen PTC Guidance

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The U.S. Department of the Treasury Department and IRS on April 10, 2024, issued a supplemental notice of proposed rulemaking (NPRM) under the Internal Revenue Code's Section 45V clean hydrogen production tax credit (PTC)....more

Foley Hoag LLP - Energy & Climate Counsel

IRS Issues Guidance and Requests Comment on Provisional Emission Rate Process for Hydrogen Tax Credit

On April 10, 2024, Department of Treasury and the Internal Revenue Service (collectively, “IRS”) issued further guidance on the “Provisional Emission Rate” or “PER” process for the Inflation Reduction Act’s (“IRA”) Hydrogen...more

Holland & Knight LLP

Inflation Reduction Act Direct Pay Rules Finalized

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The U.S. Department of the Treasury and IRS released final regulations under Section 6417 of the Internal Revenue Code, as enacted by the Inflation Reduction Act (IRA). Section 6417 allows certain taxpayers to elect to...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department and IRS Issue Final Regulations and Other Guidance on the Direct Pay Election under Section 6417 of the...

Under Section 6417 of the Internal Revenue Code (IRC), “applicable entities” and certain electing taxpayers can elect to treat various renewable energy tax credits as payments against tax, essentially making those credits...more

Schwabe, Williamson & Wyatt PC

Department of Treasury Issues Final Regulations Regarding Elective Pay Program ‎

The final regulations are effective on May 10, 2024. ‎ Last week, the Department of the Treasury issued final regulations that address the Elective Pay program (also called direct pay), predominantly under Internal Revenue...more

BCLP

FinCEN Proposes AML/CFT Rules for Investment Advisers

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On February 13, 2024, the U.S. Treasury Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking regarding a new proposed rule that would require certain investment advisers to apply anti-money...more

Stinson LLP

FinCEN Proposes Expanding AML Rules to Investment Advisers

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On February 13, 2024, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury (Treasury) issued a "Notice of proposed rulemaking" (proposed rule) that would require Securities Exchange Commission...more

Sheppard Mullin Richter & Hampton LLP

Comment Period for the No Surprises Act Proposed Rule, “Federal Independent Dispute Resolution (IDR) Operations,” Will Reopen

On January 17, 2024, the Departments of Health and Human Services, Labor, and the Treasury (collectively, the “Departments”) and the Office of Personnel Management issued a notice that they will reopen the period for...more

Akin Gump Strauss Hauer & Feld LLP

Proposed Clean Hydrogen Guidance: Limitations on Credit Availability for Green Hydrogen Projects and Paths Forward

Guidance recently issued by the Department of the Treasury and the Internal Revenue Service (IRS) in proposed regulations (REG-117631-23) will (if held to be final) have a significant impact on green hydrogen projects in the...more

Holland & Knight LLP

Breaking Down the Section 45V Clean Hydrogen PTC Proposed Regulations

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The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the...more

Faegre Drinker Biddle & Reath LLP

Department of Treasury Issues Guidance on Section 45X Production Tax Credit

The U.S. Department of the Treasury, in conjunction with the Internal Revenue Service (IRS), released updated proposed guidance on the Section 45X Production Tax Credit (PTC). The guidance addresses specific requirements...more

A&O Shearman

Treasury’s Proposed Regulations on Energy Property and the Energy Investment Tax Credit

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Among other things, the proposed regulations would: Below is a more detailed summary of the key provisions in the proposed regulations as well as our initial observations. The IRS will collect comments until January 22, 2024,...more

Holland & Knight LLP

A Look at Foreign Entities of Concern and the Section 30D Clean Vehicle Tax Credit

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The U.S. Department of Energy (DOE) recently released proposed guidance defining "foreign entity of concern" (FEOC) under the Infrastructure Investment and Jobs Act (IIJA). Among other reasons, this proposed guidance is...more

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