News & Analysis as of

Internal Revenue Code (IRC) Tax Credits Private Letter Rulings

Frost Brown Todd

To Be Clear…LLCs Can Issue Qualified Small Business Stock (QSBS)

Frost Brown Todd on

Since the finalization of the IRS’s “check-the-box” entity-classification regulations nearly 30 years ago, a state law LLC can elect to be taxed an association taxable as a corporation. During the past month, we have heard...more

McDermott Will & Schulte

Weekly IRS Roundup April 27 – May 1, 2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 27 – May 1, 2020. April 28, 2020: The IRS published Large Business and International...more

Stoel Rives LLP

IRS Opens Door for Community Solar Investors to Qualify for Federal Tax Credits

Stoel Rives LLP on

The Internal Revenue Service issued a private letter ruling this week to an individual owner of solar panels installed in an off-site net-metered community solar garden. In the Ruling, the Service confirmed the individual’s...more

Foley Hoag LLP

IRS Issues Favorable PLR Allowing an Individual Panel Owner in an Offsite, Net-Metered Community-Shared Solar Project to Claim...

Foley Hoag LLP on

The Internal Revenue Service has issued a private letter ruling to an individual owner of solar panels installed in an offsite net-metered community-shared solar project confirming the individual’s eligibility for the income...more

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