News & Analysis as of

Safe Harbors New Guidance U.S. Treasury

Paul Hastings LLP

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

Paul Hastings LLP on

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

Troutman Pepper Locke

IRS Issues Beginning of Construction Guidance in Response to July Executive Order

Troutman Pepper Locke on

On August 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2025-42, which provides guidance on the beginning of construction requirement as it relates to the new credit termination...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

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

A&O Shearman

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

A&O Shearman on

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

DarrowEverett LLP on

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

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

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 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

Latham & Watkins LLP

Treasury and IRS Issue Initial Guidance on Stock Buyback Tax and Corporate Minimum Tax

Latham & Watkins LLP on

New guidance clarifies certain key points on implementing the 1% tax that generally applies to public company stock buybacks and the 15% corporate minimum tax that generally applies to corporations with book income exceeding...more

Bracewell LLP

IRS and Treasury Department Release Guidance on the Deductibility of Eligible Expenses under the Paycheck Protection Program

Bracewell LLP on

On November 18, 2020, the IRS and Treasury Department released Revenue Ruling 2020-27 (the Revenue Ruling) stating that, if a taxpayer received a PPP Loan (defined below) and paid or incurred Eligible Expenses (defined...more

Woods Rogers

PPP Loan Forgiveness Application

Woods Rogers on

This Article is based on information available as of May 18, 2020.  The information is subject to change as additional guidance is provided. The SBA has now published its PPP Loan Forgiveness Application (SBA Form 3508) which...more

Lathrop GPM

Paycheck Protection Program (PPP) update, with our own “Frequently Asked Questions”

Lathrop GPM on

Anyone closely considering or utilizing the PPP has undoubtedly heard about the U.S. Small Business Administration’s (SBA’s) so-called “Frequently Asked Questions” (FAQs) that the agency has been issuing and updating on a...more

Holland & Knight LLP

SBA Provides Safe Harbor for PPP Borrowers Receiving Less than $2 Million

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The U.S. Small Business Administration (SBA) has released guidance just one day before its safe harbor repayment deadline of May 14, 2020, to help a Paycheck Protection Program (PPP) borrower determine whether it lacked a...more

Harris Beach Murtha PLLC

Treasury/SBA Extend “Safe Harbor” Period to May 18, 2020

On May 13, 2020, the US Treasury and Small Business Administration released additional guidance regarding the Paycheck Protection Program loans, extending the “Safe Harbor” period for borrowers to return loans for which they...more

Jackson Walker

SBA Offers Safe Harbor on PPP Good Faith Certifications of Necessity

Jackson Walker on

When submitting a Paycheck Protection Program (PPP) loan request, medical providers and all other borrowers must certify in good faith that “[c]urrent economic uncertainty makes this loan request necessary to support the...more

Dentons

PPP Money: Demonstrating You Meet the SBA Requirements

Dentons on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) created the Paycheck Protection Program (PPP), authorizing certain businesses to apply for loans, a portion of which was eligible for forgiveness through the...more

Eversheds Sutherland (US) LLP

New guidance issued on Paycheck Protection Program; loans with original amounts under $2 million will be deemed in good faith

The Treasury and the Small Business Administration (SBA) today updated its set of Frequently Asked Questions (FAQs) with respect to the Paycheck Protection Program (PPP) established under the Coronavirus Aid, Relief, and...more

Nutter McClennen & Fish LLP

PPP Good Faith Certification Safe Harbor Announced by SBA

On May 13, the SBA published FAQ #46 in its continuing list of frequently asked questions, regarding the review of borrower’s good faith certification of the necessity of their loan request. Notably, the SBA announced that...more

Miles & Stockbridge P.C.

Small Business Administration Provides Welcome Guidance on PPP Loan Certification

On May 13, 2020, the U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury, provided the following critical guidance on the good-faith certification requirement for Payroll...more

Genova Burns LLC

SBA Finally Issues Anticipated Further Guidance on Borrower’s Good Faith for Certification of Necessity

Genova Burns LLC on

The Treasury Department has released an update of the Program FAQs for the Paycheck Protection Program, addressing Question 31, which had imposed a heightened, but uncertain, standard of need on borrowers, suggesting many may...more

Dentons

Can I Keep PPP Money? Should I? SBA Clarifies

Dentons on

On May 13, the Small Business Administration (SBA) issued additional guidance concerning its implementation of the Paycheck Protection Program (PPP), specifically, the required certification that loan recipients have a true...more

Harris Beach Murtha PLLC

Treasury/SBA Announce Added Protections for Borrowers Who Make Good-Faith “Economic Necessity” Certification under the Paycheck...

Many Paycheck Protection Program (“PPP”) loan borrowers have been considering whether or not to return some or all of their loan proceeds on May 14th, the last day of the “Safe Harbor” period. On May 13, the United States...more

Ruder Ware

New PPP FAQ — Good Faith Certification of Economic Uncertainty

Ruder Ware on

The US Department of Treasury released FAQ #46 this morning providing guidance on “how will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request.”...more

Holland & Knight LLP

Safe Harbor Deadline for Repayment of PPP Loans Extended from May 7 to May 14

Holland & Knight LLP on

The U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury, has extended the deadline to repay Paycheck Protection Program (PPP) loans by one week. In further response to the SBA's...more

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