The White House today issued an Executive Order that requires the Treasury Department to “issue new and revised guidance * * * to ensure that policies concerning the ‘beginning of construction’ are not circumvented, including...more
After weeks of negotiations and multiple rounds of changes and political negotiation, Congress today passed The One Big Beautiful Bill Act (the “Act”). The Act makes a number of significant changes to the tax credits...more
7/7/2025
/ Energy Policy ,
Energy Projects ,
Energy Storage ,
Foreign Entities ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
National Security ,
New Legislation ,
Popular ,
Renewable Energy ,
Tax Credits
The U.S. Department of the Treasury recently released final regulations (Final Regulations) regarding the investment tax credit (ITC) pursuant to Section 48 of the Internal Revenue Code. These Final Regulations finalize...more
The U.S. Department of the Treasury (Treasury) today released Notice 2024-41, Domestic Content Bonus Credit Amounts under the Inflation Reduction Act of 2022: Expansion of Applicable Projects for Safe Harbor in Notice 2023-38...more
5/17/2024
/ Energy Projects ,
Energy Sector ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Renewable Energy ,
Renewable Energy Incentives ,
Safe Harbors ,
Tax Credits ,
U.S. Treasury
Beginning with taxes levied for collection in 2025, a newly enacted Washington property tax statute provides an exemption from the state-imposed portion of personal property tax for qualified personal property used for the...more
The U.S. Department of the Treasury (Treasury Department) recently released a notice of proposed rulemaking regarding four significant aspects of the investment tax credit (ITC) under Section 48 of the Internal Revenue Code...more
The U.S. Department of the Treasury (Treasury) today released a notice of proposed rulemaking (Proposed Regulations) related to the prevailing wage and apprenticeship (PWA) requirements for increased tax credits established...more
8/31/2023
/ Apprenticeships ,
Davis-Bacon Act ,
Department of Labor (DOL) ,
Energy Projects ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Prevailing Wages ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The U.S. Department of the Treasury (Treasury) earlier this week issued two notices of proposed rulemaking (the Proposed Regulations) related to the election to transfer certain tax credits (the Tax Credit Transfer Election)...more
The U.S. Department of the Treasury (Treasury) earlier this week issued a notice of proposed rulemaking regarding the up to 20 percentage point additional investment tax credit (ITC) for certain solar and wind facilities...more
6/5/2023
/ Clean Energy ,
Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Renewable Energy Incentives ,
Solar Energy ,
Solar Farm ,
Tax Credits ,
U.S. Treasury ,
Wind Farm ,
Wind Power
The U.S. Department of the Treasury earlier today released Notice 2023-38, Domestic Content Bonus Credit Guidance under Sections 45, 45Y, 48, and 48E (the Notice). The Notice indicates that the Treasury Department and the IRS...more
The U.S. Department of the Treasury earlier today released Internal Revenue Service (IRS) Notice 2023-29, Energy Community Bonus Credit Amounts under the Inflation Reduction Act of 2022 (the Notice). The Notice indicates...more
The Department of the Treasury yesterday published a correction to Notice 2022-61 (the Notice), which contains guidance related to the prevailing wage and apprenticeship requirements applicable to the production tax credit...more
President Biden earlier this week signed the Inflation Reduction Act of 2022 (Act), which contains a number of tax and spending provisions impacting a broad range of businesses and individuals. These changes include a 15%...more
The IRS recently issued Notice 2021-05, which provides relief for offshore projects and projects located on federal land related to the beginning-of-construction requirements for the production tax credit under Section 45 of...more
The IRS today issued Notice 2020-41, which modifies prior notices regarding the beginning-of-construction requirement for qualifying for the production tax credit under Section 45 of the Code (“PTC”) and the investment tax...more
President Trump Friday, March 27th, signed into law the Coronavirus Aid, Relief, and Economic Security Act (Act). The Act contains a series of provisions designed to provide economic stimulus and tax relief to individuals and...more
President Trump on Wednesday signed into law the Families First Coronavirus Response Act. The Act contains a coronavirus relief package that includes, among other provisions, an expansion of the Family and Medical Leave Act...more
The United States Court of Federal Claims recently released two anticipated opinions, Bishop Hill Energy, LLC v. United States and California Ridge Wind Energy, LLC v. United States, which were issued under seal on January 7,...more
6/26/2019
/ 1603 Grants ,
Burden of Proof ,
Counterclaims ,
Department of Justice (DOJ) ,
Economic Substance Doctrine ,
Energy Projects ,
Fees ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
Renewable Energy ,
Sham Transactions ,
Tax Credits ,
Testimony
Congressional leadership reached agreement late last evening on an omnibus spending and tax bill that will be voted on by the House and Senate later this week. The bill reflects a global agreement among the leaders on tax and...more
Congress this week passed the Tax Increase Prevention Act of 2014 (the Act), which is expected to be signed by President Obama at any time. The Act renews or extends a number of expired or expiring provisions. Some of the...more
Last week the IRS released an internal memorandum addressing which of the parties to a contract manufacturing arrangement for biodiesel is treated as the “producer” of the biodiesel for certain federal tax purposes....more