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Inflation Reduction Act (IRA) U.S. Treasury Greenhouse Gas Emissions

Morgan Lewis

Treasury Department Releases Final Regulations Applicable to the Hydrogen Tax Credits

Morgan Lewis on

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

Mayer Brown

Treasury Issues Final Regulations on Technology Neutral Clean Energy Projects

Mayer Brown on

On January 7, 2025, the US Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) issued final regulations (the “Final Regulations”) relating to technology-neutral tax credits for clean energy...more

Orrick, Herrington & Sutcliffe LLP

Tech-Neutral Credits Final Regulations Released for Clean Electricity Production

The U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) have released final regulations for two new tax credits under the Internal Revenue Code (Code), established by the Inflation Reduction Act...more

Orrick, Herrington & Sutcliffe LLP

Treasury and IRS Release Guidance on Clean Fuel Production Credit

The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) have released a notice of intent to propose regulations and a notice providing the annual emissions rate table for the Clean Fuel...more

Latham & Watkins LLP

Treasury Circulates Draft Regulations for Section 45Z Clean Fuel Production Credit

Latham & Watkins LLP on

A new tax credit is proposed to calculate a fuel’s emissions factor based on its full carbon life cycle of production. Notices 2025-10 and 2025-11 (Notices), released on January 10, 2025, outline the intention of the...more

Holland & Knight LLP

Questions and Answers: Initial Section 45Z Clean Fuel PTC Guidance

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on Jan. 10, 2025, released initial guidance regarding the production tax credit (PTC) for clean fuels under Section 45Z of the Internal Revenue Code, as enacted by the Inflation...more

Beveridge & Diamond PC

Treasury and the IRS Finalize Clean Electricity Tax Credit Rules

Beveridge & Diamond PC on

The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) finalized regulations on the clean electricity production tax credit and clean electricity investment tax credit under sections 45Y and 48E...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Final Hydrogen Production Tax Credit Regulations

On January 3, 2025, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Regulations) to implement the tax credit for the production of “qualified clean hydrogen”...more

Troutman Pepper Locke

Treasury and IRS Issue Final Regulations on Clean Electricity Production and Investment Tax Credits

Troutman Pepper Locke on

On January 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) published final regulations providing further guidance on the clean electricity production credit under Section 45Y and the clean...more

Jones Day

Draft Guidance on the Section 45Z Clean Fuel Production Credit

Jones Day on

The Department of Treasury and the IRS have released Notices 2025-10 and 2025-11, outlining intended forthcoming proposed regulations for the Section 45Z clean fuel production credit introduced by the Inflation Reduction Act...more

Baker Botts L.L.P.

Inflation Reduction Act Guidance: IRS and Treasury Release Final Regulations on the New Tech-Neutral Clean Energy Tax Credits

Baker Botts L.L.P. on

On January 15, 2025, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) published final regulations regarding the new “clean electricity production credit” under Internal Revenue Code...more

Paul Hastings LLP

IRS and Treasury Release Final Rules for Technology-Neutral Clean Electricity Credits Under Sections 45Y and 48E

Paul Hastings LLP on

The Inflation Reduction Act of 2022 introduced the Code Section 45Y production tax credit (CEPTC) for facilities that generate clean electricity with zero greenhouse gas (GHG) emissions and the Code Section 48E investment tax...more

Vinson & Elkins LLP

Treasury Releases Final Regulations for the Tech-Neutral PTC and ITC

Vinson & Elkins LLP on

On January 7, 2025, the U.S. Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (T.D. 10024) (the “Final Regulations” and the preamble thereto, the...more

Vinson & Elkins LLP

Final Hydrogen Regulations Provide Multiple Paths for Production, But The Three Pillars and Other Obstacles Remain

Vinson & Elkins LLP on

On January 10, 2024, the Department of the Treasury (“Treasury”) published the final regulations governing the section 45V Clean Hydrogen Production Tax Credit (“Final Regulations”). The Final Regulations tackle many of the...more

Paul Hastings LLP

Treasury and IRS Finalize Clean Hydrogen Production Credit Regulations

Paul Hastings LLP on

The Inflation Reduction Act of 2022 added the Section 45V production tax credit for the production of clean hydrogen (Section 45V) to the Internal Revenue Code of 1986, as amended. Section 45V provides a credit against...more

Holland & Knight LLP

Treasury Department, IRS Release Section 45Z Clean Fuel PTC Guidance

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS released initial guidance on Jan. 10, 2025, regarding the production tax credit (PTC) for clean fuels under Section 45Z of the Internal Revenue Code, as enacted by the Inflation...more

Foley Hoag LLP

Treasury Finalizes Rules for Clean Hydrogen Production Tax Credit (Section 45V)

Foley Hoag LLP on

Over a year since Treasury released proposed rules—after thousands of public comments and various hearings, think pieces, whitepapers, Op-Eds, and, yes, even TV commercials—on January 3, 2025, Treasury finalized rules for...more

Jones Day

Final Regulations Issued in Final Days of Congress: Clean Hydrogen Production Tax Credit

Jones Day on

The Department of Treasury and the Internal Revenue Service issued final regulations regarding the Section 45V clean hydrogen production credit....more

Holland & Knight LLP

Treasury Department, IRS Release Section 45V Clean Hydrogen PTC Final Regulations

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on Jan. 3, 2025, released final regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the Inflation...more

Bergeson & Campbell, P.C.

Treasury and IRS Issue Guidance for SAF Credit

On October 18, 2024, the U.S. Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) issued Notice 2024-74 for the Sustainable Aviation Fuel (SAF) credit created by the Inflation Reduction Act...more

Jones Day

Taxing Tangle: U.S. IRS Releases Guidance for Clean Hydrogen Production Tax Credit

Jones Day on

The U.S. Internal Revenue Service ("IRS") has released proposed regulations regarding the Clean Hydrogen Production Tax Credit introduced in the Inflation Reduction Act of 2022 ("IRA"). The proposed regulations provide more...more

Baker Botts L.L.P.

Proposed Regulations Regarding Section 48E Clean Electricity Low-Income Communities Bonus Credit Program

Baker Botts L.L.P. on

On September 3, 2024, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) published proposed regulations relating to the Clean Electricity Low-Income Communities Bonus Credit Program (the...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury and IRS Issue Proposed Regulations Regarding the Clean Energy Production and Clean Electricity Investment Credits Under...

The proposed regulations provide the initial guidance for new tax credits that go into effect in 2025 for clean electricity facilities using various technologies that achieve net-zero greenhouse gas (GHG) emissions. Under...more

Vinson & Elkins LLP

Treasury Releases Proposed Regulations on Tech-Neutral PTC and ITC

Vinson & Elkins LLP on

On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production...more

Ballard Spahr LLP

Treasury and IRS Propose Clean Electricity Investment Guidance

Ballard Spahr LLP on

The Treasury Department and IRS on Wednesday issued an eagerly awaited notice of proposed rulemaking to incentivize clean energy facilities: the “clean electricity production credit”—Section 45Y credit—and “clean electricity...more

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