News & Analysis as of

Investment Tax Credits Internal Revenue Code (IRC) Safe Harbors

Hogan Lovells

U.S. Treasury releases New Beginning of Construction guidance on clean energy tax credits

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With an effective date of September 2, 2025, New Beginning of Construction guidance will be prospective and not apply to projects that satisfied beginning of construction under old IRS guidance before September 2, 2025. ...more

Troutman Pepper Locke

IRS Issues Beginning of Construction Guidance in Response to July Executive Order

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On August 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-42, which provides guidance on the beginning of construction requirement as it relates to the new credit termination...more

Husch Blackwell LLP

Treasury Guidance Tightens "Beginning of Construction" Standards for Clean Energy Tax Credits, Eliminating 5% Safe Harbor for Wind...

Husch Blackwell LLP on

On August 15, 2025, the Internal Revenue Service (IRS) issued Notice 2025-42, providing long-awaited guidance on the “beginning of construction” requirements for wind and solar facilities under Sections 45Y and 48E of the...more

Holland & Knight LLP

Eyes on Energy Tax Update: Second Quarter 2024

Holland & Knight LLP on

Eyes on Energy Tax Update is a regular publication of the Holland & Knight Renewable and Alternative Energy Tax Team that provides highlights of important developments. The Renewable and Alternative Energy Tax Team also...more

Holland & Knight LLP

Breaking Down the New Domestic Content Safe Harbor Guidance

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The IRS issued Notice 2024-41 on May 16, 2024, which provides updated guidance regarding the domestic content bonus credit under Sections 45, 48, 45Y and 48E of the Internal Revenue Code. The new notice modifies previously...more

Bradley Arant Boult Cummings LLP

Inflation Reduction Act Domestic Content Bonus Update: IRS Issues Updated Guidance with New Elective Safe Harbor

On May 16, 2024, the IRS released Notice 2024-41 (the “Notice”), modifying its preliminary guidance issued last May in Notice 2023-38 addressing the application of potential future rules that taxpayers must satisfy to qualify...more

Troutman Pepper Locke

Treasury and IRS Release Further Guidance on Energy Community Enhancements Under IRA

Troutman Pepper Locke on

On March 22, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2024-30, which modifies prior guidance on the energy community enhancements. It further clarifies (a) when offshore...more

Bracewell LLP

Treasury Department and IRS Release Guidance on the New Domestic Content Bonus Credit

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The domestic content bonus credit (the DC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy and storage projects constructed with sufficient...more

Mayer Brown

IRS Extends Start-of-Construction Relief for Renewables in Light of Continuing Effects of COVID-19

Mayer Brown on

On June 29, 2021, the US Internal Revenue Service (the “IRS”) released Notice 2021-41 (the “Notice”), extending and enhancing previous relief given by the IRS pursuant to Notice 2020-41 (the “Previous Notice”) on the...more

McGuireWoods LLP

Continuity Safe Harbor Extended for Offshore Wind, Renewable Energy Projects on Federal Land

McGuireWoods LLP on

The IRS recently issued Notice 2021-05, which extends the continuity safe harbor to 10 years for offshore wind projects and renewable energy projects constructed on federal land. Under prior IRS guidance, most renewable...more

Mintz - Energy & Sustainability Viewpoints

Viewing Notice 2020-12 Through the Lens of Notice 2013-29 and Notice 2018-59: How is “Beginning of Construction” Guidance for...

In February 2020, the IRS issued Notice 2020-12, which provides long-awaited guidance on when a “qualified facility” or carbon capture equipment, in each case within the meaning of section 45Q, is considered to have “begun...more

Morgan Lewis

IRS Releases Critical Guidance on Carbon Capture Tax Credits

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The guidance issued on February 19 by the Internal Revenue Service is the type that the carbon capture and storage industry had sought, and will hopefully open up the market for investment by eliminating tax-related...more

McDermott Will & Schulte

IRS Issues Private Letter Ruling Allowing Tax Equity Financing with a Regulated Utility Taxpayer

In Private Letter Ruling 201946007, the Internal Revenue Service (IRS) allowed a tax equity investor to participate with a regulated utility in a tax equity financing arrangement for wind investments without being subject to...more

King & Spalding

Investments in Renewable and Conventional Power Projects in Qualified Opportunity Zones

King & Spalding on

The Qualified Opportunity Zone rules under Section 1400Z of the Internal Revenue Code permit certain investors to realize substantial tax benefits if they invest capital into federally-designated low-income communities known...more

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