Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more
On July 1, 2025, the Senate passed One Big Beautiful Bill (OBBB) in a 51-50 vote, with Vice President J.D. Vance casting a tiebreaker vote. Although the House of Representatives previously passed its own version of OBBB (see...more
7/7/2025
/ China ,
Clean Energy ,
Energy Policy ,
Energy Projects ,
Federal Budget ,
Foreign Entities ,
Inflation Reduction Act (IRA) ,
New Legislation ,
Popular ,
Renewable Energy ,
Tax Credits ,
Trump Administration
Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more
The House of Representatives narrowly passed the One Big Beautiful Bill along party lines. The proposed bill would terminate or otherwise make significant changes to several of the energy tax credits created or expanded by...more
On July 24, 2024, the IRS issued Notice 2024-60, which sets forth the procedures for taxpayers to follow when claiming Section 45Q credits based on the “utilization” of carbon oxide. Taxpayers claiming credits based on...more
On December 4, 2023, the Department of Energy (DOE), Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) published related proposed guidance on the eligibility of an electric vehicle for the section...more
1/10/2024
/ Automotive Industry ,
Batteries ,
China ,
Clean Car Standards ,
Clean Energy ,
Department of Energy (DOE) ,
Electric Vehicles ,
Foreign Entities ,
Infrastructure Investment and Jobs Act (IIJA) ,
Iran ,
IRS ,
Minerals ,
Motor Vehicles ,
North Korea ,
Proposed Guidance ,
Russia ,
Tax Credits ,
U.S. Treasury
The Inflation Reduction Act of 2022 established sustainable aviation fuel (SAF) tax credits to benefit United States producers and importers of certain fuel mixtures containing SAF. On December 15, 2023, the Internal Revenue...more
On November 17, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) relating to eligible energy property that qualifies for the section 48...more
On August 29, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) on the clean energy prevailing wage and apprenticeship (PWA) requirements...more
9/14/2023
/ Apprenticeships ,
Clean Energy ,
Climate Change ,
Davis-Bacon Act ,
Energy Projects ,
Energy Sector ,
Federal Contractors ,
Inflation Reduction Act (IRA) ,
IRS ,
Labor Regulations ,
Prevailing Wages ,
Proposed Regulation ,
Renewable Energy ,
Subcontractors ,
Tax Credits ,
U.S. Treasury
On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued guidance on several topics related to tax credit monetization under the Inflation Reduction Act of 2022 (IRA),...more
7/13/2023
/ Comment Period ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Proposed Regulation ,
Public Hearing ,
Renewable Energy ,
Semiconductors ,
Tax Credits ,
Tax Exempt Entities ,
Transfer of Interest ,
U.S. Treasury
On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued guidance on several topics related to tax credit monetization under the Inflation Reduction Act of 2022 (IRA),...more
7/3/2023
/ Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
Transfer of Interest ,
U.S. Treasury