News & Analysis as of

Internal Revenue Service Green Energy

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Skadden, Arps, Slate, Meagher & Flom LLP

Tax: Trump Exits Global Tax Deal and Freezes Green Energy Funds

Since assuming office on January 20, 2025, President Donald Trump has prioritized tax policy, issuing a series of directives aimed at boosting economic growth and advancing the “America First” agenda. On his first day in...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

ArentFox Schiff

Five, Six, Seven, Eight, Nine, Ten . . . Will We Love 2024? Top 10 Tax Issues for the Year

ArentFox Schiff on

The 2024 election year promises to make taxes front-of-mind for many business and individual taxpayers. Beyond the election, there are other note-worthy developments, along with several highly anticipated tax law cases that...more

Troutman Pepper Locke

IRS Issues Proposed Guidance on Advanced Manufacturing Production Tax Credit Under IRA

Troutman Pepper Locke on

On December 14, the Department of the Treasury and the Internal Revenue Service (IRS), issued proposed regulations providing guidance on the Advanced Manufacturing Production Credit (Section 45X Credit), established by the...more

Amundsen Davis LLC

Tax Incentives for Green Energy Projects Come With a Lot of Strings Attached

Amundsen Davis LLC on

On August 29, 2023, Clock on Grassthe U.S. Department of the Treasury and the Internal Revenue Service (IRS) released more guidance and proposed rules on key provisions in the Inflation Reduction Act (IRA) that requires...more

Brownstein Hyatt Farber Schreck

Debt-Ceiling Deal Proposes Adjustment to IRS Funding, Protects Green-Energy Tax Incentives

On Saturday, May 27, House Speaker Kevin McCarthy (R-CA) and President Joe Biden reached an agreement to suspend the debt ceiling until January 2025 in conjunction with new spending reforms intended to reduce the federal...more

Morgan Lewis

IRA's Energy Community Tax Credit ‘Adder’: IRS Releases Taxpayer-Favorable Guidance

Morgan Lewis on

The highly anticipated guidance for determining a “green” energy facility’s eligibility for the potentially valuable tax credit increase largely aligns with industry expectations, including by providing certainty on energy...more

Brownstein Hyatt Farber Schreck

Inflation Reduction Act (IRA) Framework: Tax Policy – Summary and Analysis

This document summarizes the tax provisions of the Inflation Reduction Act of 2022 agreement that was released on July 27, 2022. The blue font signifies portions of the new bill that were added or have been modified from...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - January 2020 #2

TAX TIDBIT - Welcome back from the long weekend in remembrance of Dr. Martin Luther King, Jr., who once said “all labor that uplifts humanity has dignity and importance and should be undertaken with painstaking...more

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