The highly anticipated guidance for the second round of allocations (Round Two) under the US Treasury’s §48C Qualifying Advanced Energy Project Tax Credit program was released this week pursuant to IRS Notice 2024-36, with...more
This past summer, the Treasury and Internal Revenue Service (IRS) published proposed Treasury Regulations (88 FR 40528 and 88 FR 40496) under two key provisions of the Inflation Reduction Act of 2022 (IRA) designed to enable...more
On May 31, 2023, the Department of Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) released Notice 2023-44 (“Notice”) to provide additional guidance on Section 48C, a revised and expanded allocation-based...more
Inflation Reduction Act Overview -
$740 billion package focused on inflation and deficit reduction, health care, and energy security & climate change -
• Raises $737 billion in revenue through a new 15% corporate book...more
4/20/2023
/ Affordable Care Act ,
Clean Energy ,
Climate Change ,
Deficit Reduction ,
Energy Sector ,
Healthcare ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Prevailing Wages ,
Production Tax Credit ,
Tax Credits ,
Wages
On Friday, December 23, 2022, the IRS published Announcement 2023-1, 2023-1 IRB 1 (the “Announcement”), which sets forth a new reference standard for energy efficient commercial building (“EECB”) property for purposes of the...more