There is a possibility of one or more additional reconciliation bills during late 2025 and 2026 and therefore further opportunities for enactment of additional provisions, as well as changes and improvements to the...more
8/6/2025
/ Budget Reconciliation ,
Energy Policy ,
Energy Sector ,
Executive Orders ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
New Legislation ,
Renewable Energy ,
Tax Credits ,
Tax Legislation ,
Trump Administration
The race to remake portions of the Internal Revenue Code (Code) and to prevent expiration of certain Tax Cuts and Jobs Act (TCJA) provisions has begun, with House Ways & Means Committee proposals (the Markup) to spend...more
5/15/2025
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Corporate Taxes ,
Employee Benefits ,
Executive Compensation ,
Federal Budget ,
Foreign Derived Intangible Income (FDII) ,
GILTI tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Proposed Legislation ,
Renewable Energy ,
SALT ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Exempt Entities ,
Tax Legislation ,
Tax Reform
As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and enacted under § 6417 an election that allows applicable entities...more
3/13/2024
/ Energy Projects ,
Grants ,
IRS ,
Loans ,
New Regulations ,
Partnerships ,
Production Tax Credit ,
Registration Requirement ,
Renewable Energy ,
S-Corporation ,
Tax Credits ,
Tax Exempt Entities ,
Tax Returns ,
U.S. Treasury
As covered in our prior alerts, the Inflation Reduction Act enacted new renewable energy credits, including an advanced manufacturing production credit under Section 45X that provides tax credits to domestic producers and...more
As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and included a mechanism for certain tax credits to increase by a...more
9/18/2023
/ Apprenticeships ,
Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Penalties ,
Prevailing Wages ,
Production Tax Credit ,
Recordkeeping Requirements ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits and enacted under § 6418 an election that allows eligible taxpayers...more
As covered in our prior alerts, the Inflation Reduction Act[1] (IRA) modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and enacted under § 6417 an election that allows applicable...more
As covered in our prior alert, the Inflation Reduction Act[2] (IRA) modified and reinstated existing renewable energy credits and enacted new renewable energy credits. The IRA also enacted two novel alternatives to tax equity...more
Key Takeaways:
..Recently enacted direct pay and transfer provisions apply to certain clean energy tax credits. These provisions will have a significant impact on how taxpayers can monetize these tax credits and, in...more
9/16/2022
/ Biden Administration ,
Carbon Capture and Sequestration ,
Clean Energy ,
Climate Change ,
Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Monetization ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits
Key Takeaways:
..The Senate voted 51-50 on August 7 to pass the Inflation Reduction Act.
..The legislation is expected to pass the House this week without changes and to be signed by President Biden.
..The...more
8/8/2022
/ Climate Change ,
Corporate Taxes ,
Drug Pricing ,
Energy Projects ,
Federal Funding ,
Inflation Adjustments ,
Medicare ,
Oil & Gas ,
Pending Legislation ,
Prescription Drugs ,
Renewable Energy ,
Superfund ,
Tax Credits