The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key...more
The US House of Representatives on May 22, 2025 passed the One Big Beautiful Bill Act (the Act), which includes a tax package that would extend certain provisions of the 2017 Tax Cuts and Jobs Act set to expire at the end of...more
On January 3, 2025, the US Department of the Treasury released final Treasury regulations applicable to the hydrogen production tax credit under Section 45V and the investment tax credit for hydrogen production facilities...more
3/27/2025
/ Carbon Capture and Sequestration ,
Clean Energy ,
Energy Sector ,
Final Rules ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The US Department of Treasury and the IRS on May 16 released Notice 2024-41, which provides a new elective safe harbor that taxpayers may use to qualify for the domestic content bonus credit amount under Sections 45, 45Y, 48,...more
The Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) published proposed regulations (the Proposed Regulations) in late December 2023 setting forth rules that would apply to the tax credits for...more
The Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) recently published proposed regulations (Proposed Regulations) setting forth rules applicable to the credit for the production of clean...more
1/8/2024
/ Energy Projects ,
Energy Sector ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
The Internal Revenue Service’s proposed Section 45X regulations, released on December 15, provide US-based manufacturers with much-anticipated guidance for a credit that has been available since the beginning of 2023....more
On June 14, 2023, the Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released temporary regulations (Temporary Regulations) and proposed regulations (Proposed Regulations; collectively with the...more
The Internal Revenue Service and US Department of the Treasury released Notice 2023-38 on May 12, which establishes rules for testing an applicable “green” energy facility’s eligibility for a bonus federal income tax credit...more
he Internal Revenue Service (IRS), the Treasury Department (Treasury), and the Department of Energy (DOE) released Notice 2023-18 (Notice) on February 13, detailing the procedures through which the IRS and DOE will award a...more
The Internal Revenue Service (IRS) published Notice 2022-61 (the Notice) in the November 30 Federal Register to provide guidance on the key prevailing wage and apprenticeship labor standards (W&A Requirements) generally...more
The Inflation Reduction Act of 2022 reflects a significant step toward meeting the United States’ greenhouse gas emission reduction targets from the Paris Convention and recognizes the indispensable role that nuclear power...more
8/17/2022
/ Biden Administration ,
Climate Change ,
Energy Tax Incentives ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Production Tax Credit ,
Renewable Energy ,
Renewable Energy Incentives ,
Solar Energy ,
Tax Credits ,
Wind Power