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Internal Revenue Service Tax Exemptions Infrastructure

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.  
Jackson Walker

One Big Beautiful Bill Act Preserves Federal Tax Exemption for Municipal Bonds

Jackson Walker on

The One Big Beautiful Bill Act (the “OBBBA”) preserves the federal tax exemption for all municipal bonds, including both governmental purpose and qualified private activity bonds, which state and local governments rely on to...more

Troutman Pepper Locke

FERC Chief Accountant Proposes to Modify Transferability of Income Tax Credits

Troutman Pepper Locke on

On September 12, 2024, FERC’s Chief Accountant issued a notice of proposed accounting release (“NOPAR”) to modify the transferability of income tax credits (“ITCs”) related to certain energy projects under the Inflation...more

Foley & Lardner LLP

Qualifying Qualified Broadband Projects: NABL’s Request for Guidance to Clarify Qualified Broadband Project Provisions

Foley & Lardner LLP on

The Infrastructure Investment and Jobs Act (“IIJA”) has provisions to encourage investment in high-speed broadband projects, but as written, the legislation leaves open for interpretation several provisions. Guidance or...more

Orrick, Herrington & Sutcliffe LLP

IRS Focuses on Tax Exempt Financings Involving Developers

For a number of years, the IRS Office of Tax-Exempt Bonds ("TEB") has expressed concerns about potential tax abuses that may exist in what it has characterized as "developer-driven deals" involving the use of tax-exempt...more

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