REFRESH Five Tax Traps for Business Lawyers Advising Nonprofit Organizations
Navigating Contractor vs. Employee Classification
Insider Transaction Traps for the Unwary
Multijurisdictional Employers, Part 1: Independent Contractors vs. Employees
The Presumption of Innocence Podcast: Episode 60 - Enforcement Priorities of the Second Trump Administration: Employee Retention Tax Credit
REFRESH Steps for Launching a New Charitable Corporation
The Presumption of Innocence Podcast: Episode 58 - Enforcement Priorities of the Second Trump Administration: IRS Investigations
Are Overtime Wages and Tips Exempt From Income Tax? What Employers Need to Know to Prepare
Nonprofit Basics: IRS 10-Course Charity Workshop
Nonprofit Basics: Unrelated Business Income Tax: Debt Financed Income - Part 3
The Demystification of Employee Retention Credits for Private Equity Deals — PE Pathways Podcast
Nonprofit Basics: Unrelated Business Income Tax: Modifications and Exceptions - Part 2
Navigating the Inflation Reduction Act: Insights on Brownfield Energy Community Credits - Energy Law Insights
4 Key Takeaways | Analyzing the Top Income Tax Cases in 2024
REFRESH Nonprofit Basics: Year-End Thoughts and New Year To-Do List
What's the Best Transaction Structure for My Sale?
Year-End and Trending Tax Considerations for Health Care Practices
Nonprofit Basics: International Grantmaking – Part 2 Income Tax Withholding Rules
PODCAST: Williams Mullen's Benefits Companion - Tax Relief and Possible Retirement Plan Resources for Hurricane Victims
The Presumption of Innocence Podcast: Episode 44 - A Recipe for Litigation: The Simmering Conflict Surrounding ERC Claims
The Senate Finance Committee recently released its own draft of the “One Big Beautiful Bill Act” (the Bill) previously passed by the House as H.R. 1. Both the House and Senate versions of the Bill impose restrictions on...more
The U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) have released final regulations for the energy investment tax credit (ITC) under Section 48 of the Internal Revenue Code, which was...more
State and local governments undertaking clean energy projects may be eligible for cash payments equal to the renewable electricity production tax credit or energy investment tax credit that would have been available to a...more
Section 48 of the Internal Revenue Code of 1986, as amended (the “Code”) provides for an investment tax credit (“ITC”) for certain energy property. The Inflation Reduction Act of 2022 (the “IRA”) amended Section 48 in several...more
On November 17, 2023, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations [REG-132569-17] regarding the definition of “energy property” and related rules...more
Nuclear energy is experiencing a resurgence. As the world grapples with how best to address climate change, nuclear has found a seat at the table as a viable, zero-carbon energy source. While the appetite in the U.S. for...more
The application cycle for the first round of credits will soon open. Treasury’s additional guidance clarifies what types of facilities may qualify for credits, the submission process and the selection criteria for evaluating...more
As previously discussed in our blog Inflation Reduction Act: Wage and Apprenticeship Requirements, the Inflation Reduction Act (the “IRA”) restructured the tax credit system associated with qualified clean energy projects...more
IRS extends safe harbor provisions for renewable energy projects impacted by COVID-19 - Renewables Now – June 30 - The Internal Revenue Service (IRS) has granted extra time to renewable energy projects impacted by the...more
Good news came for renewable energy developers on June 29, 2021, when the IRS issued Notice 2021-41. The notice gives developers more time to finish projects and makes it easier to prove that they began construction on a...more
The US Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit. Key Points: ..The IRS finalized the third set of rules in a series of regulatory guidance...more
On September 21, the United States Energy Association (“USEA”), on behalf of the Department of Energy Office of Fossil Energy, released a comprehensive report on the current state of carbon capture, utilization, and...more
The Treasury Department and the IRS recently provided practical administrative guidance for carbon capture and sequestration tax credits, but what are the broader implications for future energy production?...more
Section 45Q, as amended by the Bipartisan Budget Act of 2018 (BBA), provides a substantial tax credit for the capture and sequestration of carbon dioxide and other carbon oxides. Taxpayers have been awaiting guidance from the...more
The Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit. Key Points: ..These rules are the third in a series of regulatory guidance issued by the IRS...more
Notice 2020-41 gives renewable energy developers more time to complete projects and eases technical requirements of the 3 ½ month rule. Key Points: ..Developers who started construction in 2016 or 2017 now have five years...more
The Treasury Department and Internal Revenue Service (IRS) issued Proposed Regulations for carbon sequestration tax credits—under Section 45Q—addressing recapture risk and the availability of the credit when carbon is...more
The proposed regulations, released on May 28 and on which taxpayers may currently rely pending finalization, build on prior guidance for carbon capture and sequestration tax credits under Section 45Q of the Internal Revenue...more
On May 27, 2020, the US Internal Revenue Service (the “IRS”) released Notice 2020-41 (the “Notice”), updating the IRS guidance on the start-of-construction rules for the production tax credit (“PTC”) and energy investment tax...more
Background - As the COVID-19 pandemic continues to disrupt project development timelines generally, solar and wind projects that rely on federal income tax credits to obtain financing are particularly sensitive to...more
On Feb. 20, 2020, the IRS issued Notice 2020-12 and Revenue Procedure 2020-12 regarding carbon capture tax credits (IRC Section 45Q). Notice 2020-12 (the begin construction notice) provides guidance to determine when...more
The Internal Revenue Service (IRS) has issued the first round of guidance regarding the tax credit for carbon oxide sequestration under Internal Revenue Code Section 45Q. This guidance is divided between two documents:...more
The Internal Revenue Service (IRS) issued recent guidance regarding construction of commercial solar energy properties and other qualified energy properties for purposes of claiming the Investment Tax Credit (ITC), the key...more
Latest guidance extends “continuity safe harbor” to four years and includes other taxpayer-friendly modifications and clarifications to existing guidance. On May 5, 2016, the Internal Revenue Service (IRS) issued...more