The Inflation Reduction Act of 2022 established sustainable aviation fuel (SAF) tax credits to benefit United States producers and importers of certain fuel mixtures containing SAF. On December 15, 2023, the Internal Revenue...more
On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a package of much-awaited guidance (the Guidance) consisting of (i) proposed regulations addressing the tax credit...more
6/19/2023
/ Comment Period ,
Energy Sector ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
IRS ,
Manufacturers ,
Monetization ,
New Guidance ,
Registration Requirement ,
Semiconductors ,
Tax Credits ,
Technology Sector ,
Transfer of Interest ,
U.S. Treasury
On May 12, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released Notice 2023-38 to provide guidance on the domestic content requirements under IRC sections 45, 45Y, 48, and 48E....more
5/15/2023
/ Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
U.S. Treasury
On April 4, 2023, the IRS and the Department of Treasury released Notice 2023-29 (the Notice), which provides that proposed regulations are forthcoming regarding the energy community bonus tax credits under IRC sections 45,...more
On February 13, 2023, the Department of Treasury (Treasury) and the Internal Revenue Service (Service) issued Notice 2023-17 (Notice), establishing the 48(e) Low-Income Communities Bonus Credit Program (Program) with respect...more
3/13/2023
/ Community Development ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Low Income Housing ,
Low-Income Issues ,
New Guidance ,
Solar Energy ,
Tribal Lands ,
U.S. Treasury ,
Wind Power
On December 19, 2022, Treasury announced a timeline for releasing information on certain tax provisions of the Inflation Reduction Act (IRA). As set forth in the announcement, Treasury will provide the following information...more
On August 14, 2020, the Internal Revenue Service (IRS) issued Rev. Proc. 2020-39 to provide guidance on the proper treatment of excess deferred taxes under the normalization provisions of section 168(i)(9) of the Internal...more