Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more
On August 15, 2025, the Treasury Department (Treasury) and Internal Revenue Service (IRS) issued much-anticipated guidance (Notice 2025-42) regarding the determination of when an applicable wind or solar facility is...more
On December 26, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) pertaining to the clean hydrogen production credit (Clean Hydrogen...more
12/29/2023
/ Anti-Abuse Rule ,
Clean Energy ,
Electricity ,
Energy Projects ,
Energy Sector ,
Energy Storage ,
Hydrogen Power ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Energy ,
Utilities Sector
On November 17, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) relating to eligible energy property that qualifies for the section 48...more
On June 14, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued guidance on several topics related to tax credit monetization under the Inflation Reduction Act of 2022 (IRA),...more
7/3/2023
/ Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Proposed Regulation ,
Renewable Energy ,
Tax Credits ,
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 Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-29(the Notice) to provide additional guidance on energy community bonus tax credits under IRC sections 45, 45Y,...more
4/11/2023
/ CERCLA ,
Coal-Fired Plants ,
Energy Projects ,
Energy Sector ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Safe Harbors ,
Tax Credits
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 (IRS) issued Notice 2023-18 (Notice), which establishes the program to allocate $10 billion of tax credits that were added by the...more
2/17/2023
/ Biden Administration ,
Clean Energy ,
Climate Change ,
Energy Projects ,
Energy Tax Incentives ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
IRS ,
Manufacturers ,
Production Tax Credit ,
Renewable Energy ,
U.S. Treasury
On June 29, 2021, the IRS issued Notice 2021-41, which provides a further extension of the continuity safe harbor and revises the “facts and circumstances” rules:
..For PTC and ITC-eligible projects for which...more
7/1/2021
/ Energy Projects ,
Energy Sector ,
Investment Tax Credits ,
IRS ,
Physical Work Test ,
Production Tax Credit ,
Project Finance ,
Renewable Energy ,
Renewable Energy Incentives ,
Safe Harbors ,
Solar Energy ,
Time Extensions ,
U.S. Treasury ,
Wind Power
On May 27, 2020, the IRS issued Notice 2020-41, which provides much needed COVID-19-related relief from workforce and supply chain issues impacting the renewable energy industry. The Notice provides the following:
..For PTC...more
On May 21, 2020, the Court of Appeals for the Federal Circuit upheld the decision of the Court of Federal Claims in the consolidated cases of California Ridge Energy, LLC v. US and Bishop Hill Energy, LLC v. US. The cases...more
The Internal Revenue Service (IRS) recently published a notice providing the inflation-adjustment factors and reference prices to be used in the calculation of renewable energy production tax credits under Internal Revenue...more