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New Guidance Tax Credits U.S. Treasury

Flaster Greenberg PC

IRS Issues New Guidance For Renewable Energy Tax Credits

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The IRS continues to issue guidelines regarding the tax credit provisions of Sections 45Y and 48E of the Internal Revenue Code, as amended (IRC). The latest notice was issued as Notice 2025-42 on Aug. 15, 2025 (Notice)...more

Akerman LLP

Start of Construction For Solar and Wind Projects in a Post-OBBBA World

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On August 15, 2025, the Treasury Department and the Internal Revenue Service (IRS) released Notice 2025-42 (the Notice) eliminating the safe harbor under which solar and wind projects could establish start of construction by...more

A&O Shearman

Highlights of the New Sections 45Y and 48E Wind and Solar Beginning-of-Construction Guidance

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On July 4, 2025, Public Law 119-21, commonly known as the One Big Beautiful Bill Act (the “OBBBA”), became law and enacted significant changes to various renewable energy incentives, including the clean electricity production...more

Latham & Watkins LLP

Treasury Guidance Narrows Beginning of Construction Rules for Wind and Solar Projects

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Wind and solar projects seeking to begin construction before July 4, 2026, must meet stricter qualification criteria for some tax incentives....more

Paul Hastings LLP

IRS and Treasury Tighten Beginning-of-Construction Rules for Wind and Solar

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On Aug. 15, the U.S. Treasury Department and the Internal Revenue Service (IRS) released IRS Notice 2025-42, narrowing the rules for what qualifies as “beginning of construction” (BOC) under the One Big Beautiful Bill Act...more

Offit Kurman

Navigating the New Construction Timing Rules for Wind and Solar Tax Credits

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The renewable energy sector faces significant regulatory changes following the enactment of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025. Through IRS Notice 2025-42, issued under Executive Order 14315, the Treasury...more

Vinson & Elkins LLP

Beginning of Construction Guidance Eliminates 5% Safe Harbor (for Wind and Solar), but Physical Work Test Survives

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On August 15, 2025, the Department of Treasury and the Internal Revenue Service (“IRS”) released guidance for wind and solar facilities under Sections 45Y and 48E (the “Tech-Neutral Tax Credits”) in the form of IRS Notice...more

Baker Botts L.L.P.

Clean Energy Tax Credits: New Guidance on Beginning of Construction for Wind and Solar Facilities

Baker Botts L.L.P. on

On August 15, 2025, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) released new guidance on the “beginning of construction” for wind and solar facilities under the clean electricity...more

Husch Blackwell LLP

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

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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

Bracewell LLP

Treasury Department and IRS Issue New Beginning-of-Construction Guidance for Wind and Solar Facilities

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The One Big Beautiful Bill Act (which we discussed in a previous client alert) generally requires wind and solar facilities to begin construction before July 5, 2026, or be placed in service by December 31, 2027, to qualify...more

Eversheds Sutherland (US) LLP

New Beginning of Construction Guidance Related to the Termination of Wind and Solar Renewable Energy Tax Credits Under the OBBBA

On August 15, 2025, the Treasury Department (Treasury) and Internal Revenue Service (IRS) issued much-anticipated guidance (Notice 2025-42) regarding the determination of when an applicable wind or solar facility is...more

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

McDermott Will & Schulte

IRS roundup: July 12 – July 29, 2025

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for July 12, 2025 – July 29, 2025. July 15, 2025: The IRS issued Revenue Ruling 2025-14, providing prescribed rates for...more

Foley & Lardner LLP

Treasury Releases New Beginning of Construction Guidance for Wind and Solar

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Treasury and the IRS today released guidance, Notice 2025-42 (the “Notice”), regarding what constitutes beginning of construction for solar and wind energy projects with respect to the production tax credit under Section 45Y...more

Troutman Pepper Locke

Treasury and IRS Release Updated Guidance on Energy Communities (UPDATED)

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On June 23, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-31. This notice includes lists of information that taxpayers may use to determine whether they meet certain requirements...more

Orrick, Herrington & Sutcliffe LLP

New IRS Guidance on Domestic Content Bonus Credit

The U.S. Department of the Treasury and the Internal Revenue Service have issued Notice 2025-08 (the “First Updated Elective Safe Harbor”), offering new guidance on the bonus credit for projects using domestically produced...more

Jones Day

Taxing Tangle: U.S. IRS Releases Guidance for Clean Hydrogen Production Tax Credit

Jones Day on

The U.S. Internal Revenue Service ("IRS") has released proposed regulations regarding the Clean Hydrogen Production Tax Credit introduced in the Inflation Reduction Act of 2022 ("IRA"). The proposed regulations provide more...more

Vinson & Elkins LLP

Treasury Releases Notice on the Section 45Z Clean Fuel Production Credit

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On May 31, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service continued to churn out Inflation Reduction Act of 2022 (“IRA”)1 guidance by releasing Notice 2024-49 (the “Notice”) regarding the...more

Holland & Knight LLP

Treasury Department, IRS Issue Section 45Z Clean Fuel PTC Registration Guidance

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The U.S. Department of the Treasury and IRS released Notice 2024-49 on May 31, 2024, regarding the registration requirement and certain other limited guidance under Section 45Z of the Internal Revenue Code. Section 45Z...more

A&O Shearman

Navigating the new elective safe harbor for the Domestic Content Bonus Tax Credit

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The U.S. Treasury Department and the Internal Revenue Service have issued a new safe harbor that will make it easier for U.S. solar, onshore wind and battery storage projects with U.S.-sourced components to qualify for...more

DarrowEverett LLP

New Domestic Content Adder Guidance: ‘Buy American’ is Back

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On May 16, 2024, the Department of the Treasury and the IRS announced the release of Notice 2024-41, which clarifies the safe harbor for classification of project components created in Notice 2023-38 and provides a new safe...more

Holland & Knight LLP

Guidance, Model Provide Additional Clarity for 40B Sustainable Aviation Fuel Tax Credit

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The U.S. Department of the Treasury and IRS released Notice 2024-37 on April 30, 2024, regarding the Sustainable Aviation Fuel (SAF) Tax Credit found at Section 40B of the Internal Revenue Code as an income tax credit and...more

Foley Hoag LLP - Energy & Climate Counsel

Treasury and IRS Issue Guidance on Calculating Lifecycle GHG Emissions for IRA’s Sustainable Aviation Fuel Tax Credit

The IRA created substantial tax credits for SAF. Under Section 40B, SAF producers who meet certain requirements can claim a credit of at least $1.25 per gallon of SAF. Among other things, eligible SAF must achieve lifecycle...more

Mintz - Tax Viewpoints

Treasury Department Issues Guidance on Round Two of §48C Advanced Energy Tax Credit Program

The highly anticipated guidance for the second round of allocations (Round Two) under the US Treasury’s §48C Qualifying Advanced Energy Project Tax Credit program was released this week pursuant to IRS Notice 2024-36, with...more

Troutman Pepper Locke

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

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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

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