The following is an overview of guidance regarding the Inflation Reduction Act's (IRA) Low-Income Communities Bonus Credit Allocation Program (LIC Bonus) and the Energy Community Tax Credit Bonus....more
The Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued guidance on June 14, 2023, regarding the Inflation Reduction Act's (IRA) two new clean energy tax credit delivery mechanisms – one on...more
As an update to our prior alert on this subject the Treasury Department recently released new guidance, which critically outlines the Department of Energy's (DOE) priorities and technical review criteria for the 48C(e)...more
On May 12, the Department of Treasury and the Internal Revenue Service (IRS) issued guidance (Notice 2023-38PDF) providing clarity on how taxpayers installing wind, solar, energy storage, and other clean energy projects can...more
The United States Treasury Department (Treasury) and the Internal Revenue Service (IRS) released proposed guidance related to the 30D credit which extends as much as $7,500 in consumer tax breaks for cars that meet criteria...more
On February 13, the Treasury Department released guidance for a major clean energy tax credit program. As noted in a prior alert, the Section 48C(e) Advanced Energy Project Credit, recently provided by the Inflation Reduction...more
Manufacturers should consider seeking Section 48C Advanced Energy Project Credit allocations, recently provided by the Inflation Reduction Act, with guidance coming out in February 2023. Capped at $10 billion, this is a...more