News & Analysis as of

New Guidance U.S. Treasury Production Tax Credit

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...

Husch Blackwell LLP on

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

Davis Wright Tremaine LLP

IRS Makes It More Difficult for Solar and Wind Facilities to Qualify for Federal Tax Credits

The IRS has made it harder for solar and wind projects to satisfy the beginning of construction rules for purposes of qualifying for federal tax credits....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

DarrowEverett LLP on

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

Foley & Lardner LLP

Treasury Releases New Beginning of Construction Guidance for Wind and Solar

Foley & Lardner LLP on

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)

Troutman Pepper Locke on

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

Holland & Knight LLP

Treasury Department, IRS Release Section 45Z Clean Fuel PTC Guidance

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS released initial guidance on Jan. 10, 2025, regarding the production tax credit (PTC) for clean fuels under Section 45Z of the Internal Revenue Code, as enacted by the Inflation...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

Vinson & Elkins LLP on

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

Holland & Knight LLP on

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

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

Foley Hoag LLP - Energy & Climate Counsel

IRS Issues Guidance and Requests Comment on Provisional Emission Rate Process for Hydrogen Tax Credit

On April 10, 2024, Department of Treasury and the Internal Revenue Service (collectively, “IRS”) issued further guidance on the “Provisional Emission Rate” or “PER” process for the Inflation Reduction Act’s (“IRA”) Hydrogen...more

Troutman Pepper Locke

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

Troutman Pepper Locke on

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

ArentFox Schiff

Money (That’s What I Want): IRA’s Direct Pay Mechanism Benefits Tax-Exempt Entities

ArentFox Schiff on

The Inflation Reduction Act (IRA), which recently celebrated its one-year anniversary, presents new opportunities for tax-exempt and other organizations to directly benefit from renewable energy tax credits, including...more

Holland & Knight LLP

Eyes on Energy Tax Update: Second Quarter 2023

Holland & Knight LLP on

The second quarter of 2023 saw continued developments as a result of the enactment of the Inflation Reduction Act of 2022 (IRA), court activity and announcements from federal agencies. Below, we summarize the updates you need...more

Bracewell LLP

Treasury Department and IRS Release Long-Awaited Guidance on Credit Transfers

Bracewell LLP on

On June 14, 2023, the Treasury Department and the Internal Revenue Service (IRS) released long-awaited guidance (the Credit Transfer Guidance) regarding the transfer of energy transition tax credits under Section 6418, which...more

Bracewell LLP

Treasury Department and IRS Release Guidance on the New Domestic Content Bonus Credit

Bracewell LLP on

The domestic content bonus credit (the DC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy and storage projects constructed with sufficient...more

Foley & Lardner LLP

Treasury and IRS Issue Guidance on Domestic Content Bonus Credit for Renewable Energy Projects

Foley & Lardner LLP on

On May 12, 2023, the IRS and the Department of the Treasury issued highly anticipated guidance regarding the requirements to satisfy the domestic content bonus tax credit provisions for investment tax credits under Sections...more

Eversheds Sutherland (US) LLP

Treasury and IRS release domestic content guidance for renewable energy tax credits

On May 12, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released Notice 2023-38 to provide guidance on the domestic content requirements under IRC sections 45, 45Y, 48, and 48E....more

Eversheds Sutherland (US) LLP

Notice 2023-29: IRS and Treasury release guidance on energy community bonus tax credits

On April 4, 2023, the IRS and the Department of Treasury released Notice 2023-29 (the Notice), which provides that proposed regulations are forthcoming regarding the energy community bonus tax credits under IRC sections 45,...more

Bracewell LLP

IRS and Treasury Department Release Initial Guidance for Labor Requirements under Inflation Reduction Act

Bracewell LLP on

On November 30, 2022, the IRS and the Treasury Department published Notice 2022-61 (the Notice) in the Federal Register. The Notice provides guidance regarding the prevailing wage requirements (the Prevailing Wage...more

McDermott Will & Schulte

IRS Issues Critical Wage and Apprenticeship Guidance under Inflation Reduction Act of 2022

McDermott Will & Schulte on

The US Department of the Treasury just released its guidance on the labor requirements that must be fulfilled in order to maintain the credit for the full amount for clean energy and infrastructure projects under the...more

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