News & Analysis as of

Internal Revenue Service Tax Planning Production Tax Credit

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.  
DarrowEverett LLP

Get to Work: New Treasury Guidance Changes Safe Harbors for Solar and Wind Tax Credits

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On August 15, the Treasury Department published long-awaited guidance on applicability of “beginning of construction” safe harbors for solar and wind projects under the One Big Beautiful Bill and Executive Order 14315. While...more

Troutman Pepper Locke

Tax Credit Implications of the One Big Beautiful Bill Act

Troutman Pepper Locke on

On May 22, the U.S. House of Representatives passed an amended version of H.R. 1—the One Big Beautiful Bill Act (the Bill) — by a vote of 215-214. The House-passed version of the bill, slated to be considered by the Senate...more

McDermott Will & Schulte

[Webinar] Navigating the IRS’s Clean Hydrogen Tax Credit Guidelines - January 9th, 1:00 pm - 1:30 pm EST

Join Partners Heather Cooper and Christopher Gladbach next Tuesday for an insightful discussion on the nuances of the Internal Revenue Services’ (IRS) recent guidance on the clean hydrogen tax credit. They’ll shed light on...more

Mayer Brown

UPDATED: IRS Releases 2022 Section 45 Production Tax Credit Amounts

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On April 14, 2022, the US Internal Revenue Service (IRS) published a notice that provides the inflation-adjustment factor and reference price for the calculation of renewable electricity production tax credits (PTCs) under...more

Mayer Brown

IRS Releases 2022 Section 45 Production Tax Credit Amounts

Mayer Brown on

On April 14, 2022, the US Internal Revenue Service (IRS) published a notice, which provides the inflation-adjustment factor and reference price for the calculation of renewable electricity production tax credits (PTCs) under...more

Gould + Ratner LLP

IRS Notice Provides Relief for Renewable Energy Construction Projects

Gould + Ratner LLP on

As we discussed in a previous article, the renewable energy industry is experiencing record growth. President Biden’s current initiatives are also expected to provide an additional boost to accelerate future growth in clean...more

Orrick, Herrington & Sutcliffe LLP

IRS Finalizes Guidance Relating to Carbon Capture and Sequestration

On January 6, 2021, the IRS issued final regulations relating to section 45Q. This is the fourth piece of guidance from the IRS relating to section 45Q, following IRS Notice 2020-12, Revenue Procedure 2020-12, the Proposed...more

Orrick, Herrington & Sutcliffe LLP

Consolidated Appropriations Act Extends Construction Deadline for Tax Credits for Wind and Solar Projects

The Consolidated Appropriations Act, 2021 (the “Act”) was signed into law on December 27, 2020. The Act provided an extension of the beginning of construction deadline for the Production Tax Credit (“PTC”) for wind projects...more

Mayer Brown

COVID-19: CARES Act Fails to Address Renewable Energy Industry’s Concerns But Path Forward with the IRS Remains

Mayer Brown on

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

Morgan Lewis

IRS Releases Critical Guidance on Carbon Capture Tax Credits

Morgan Lewis on

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

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