On March 27, 2017, the U.S. District Court for the Southern District of Florida ruled that disposal fees paid by NextEra Energy Inc. and its subsidiary, Florida Power & Light Co. (NextEra or taxpayer) into the Nuclear Waste...more
In the last few weeks, the Internal Revenue Service (the Service) issued several private letter rulings addressing a variety of tax accounting issues. From bonus depreciation elections to the correct unit of property for...more
On December 20, 2016, the Internal Revenue Service (the Service) issued Notice 2017-6, which provides relief for a taxpayer seeking to change accounting methods in connection with the final tangible property regulations...more
On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, which updates prior guidance regarding the beginning of construction requirement for IRC sections 45 and 48 renewable energy tax credits following...more
5/6/2016
/ Begun Construction Test ,
Energy Projects ,
Guidance Update ,
Internal Revenue Code (IRC) ,
IRS ,
Physical Work Test ,
Protecting Americans from Tax Hikes (PATH) Act ,
Renewable Energy Incentives ,
Safe Harbors ,
Tax Credits ,
Wind Power
On July 6, the Internal Revenue Service (IRS) Large Business and International Division issued a Directive1 to IRS agents regarding how to determine when a major component pertaining to steam or electric generation property...more