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Tax Incentives U.S. Treasury

Morgan Lewis

The Impact of the ‘One Big Beautiful Bill Act’ on Nuclear Tax Incentives

Morgan Lewis on

The One Big Beautiful Bill Act alters the landscape of nuclear energy tax incentives, with significant implications for nuclear developers, investors, and stakeholders. This LawFlash breaks down how the bill may affect...more

Husch Blackwell LLP

OBBBA Extends, Modifies Opportunity Zone Program

Husch Blackwell LLP on

One of the highly anticipated provisions of the One Big Beautiful Bill Act (OBBBA) is the extension and expansion of the Opportunity Zone (OZ) program, which was originally enacted under the Tax Cuts and Jobs Act of 2017...more

Seyfarth Shaw LLP

A New Chapter for Opportunity Zones

Seyfarth Shaw LLP on

The Opportunity Zone program (the “OZ Incentive Program”), launched under the 2017 Tax Cuts and Jobs Act, was designed to spur economic development in distressed communities by offering tax incentives to investors. As part of...more

Snell & Wilmer

A New Chapter for Clean Energy: Final ITC Regulations Unveiled

Snell & Wilmer on

On December 4, 2024, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations (T.D. 10015) related to the energy credit under Section 48 of the Internal Revenue Code. These...more

McDermott Will & Emery

IRS Issues Final Rules on Intangible Property Repatriations

McDermott Will & Emery on

With the allure of tax incentives for foreign derived intangible income and an increase in foreign audits scrutinizing transfer pricing, bringing intellectual property (IP) back to the United States is increasingly...more

Mintz - ML Strategies

ML Strategies Outlook for 2024

Mintz - ML Strategies on

Congress — Big Agenda & Little Time - With the holidays behind us, Congress returned this week for the second half of the 118th Congress with a long list of items to address and, as the 2024 campaign season ramps up, limited...more

Flaster Greenberg PC

Airport Electrification – Latest IRS Guidance

Flaster Greenberg PC on

The Department of the Treasury and Internal Revenue Service continue to issue guidance regarding the Inflation Reduction Act of 2022 (IRA), which modified and extended the clean energy investment tax credit (ITC) under...more

Amundsen Davis LLC

Tax Incentives for Green Energy Projects Come With a Lot of Strings Attached

Amundsen Davis LLC on

On August 29, 2023, Clock on Grassthe U.S. Department of the Treasury and the Internal Revenue Service (IRS) released more guidance and proposed rules on key provisions in the Inflation Reduction Act (IRA) that requires...more

Pillsbury Winthrop Shaw Pittman LLP

Estate and Tax Planning 2023 Update: Act While You Can

Although the IRS is now on high alert for wealthy individuals, new and existing planning opportunities are available, such as tax-free gifts and other advantageous planning. Wealthy individuals and families should take...more

Bradley Arant Boult Cummings LLP

Treasury and IRS propose renewable energy prevailing wage and apprenticeship requirements

Payment of a prevailing wage to workers and employment of apprentices are key requirements for renewable energy developers to obtain the various tax incentives for their projects provided by the Inflation Reduction Act of...more

Foley & Lardner LLP

Opportunity Zones: Should Your Startup Make One Its Home?

Foley & Lardner LLP on

A Qualified Opportunity Zone (QOZ) is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. The U.S. federal government created this tax...more

Wiley Rein LLP

Treasury Department Issues Guidance and Timeline to Allocate $4 Billion in Qualifying Advanced Energy Project Credits

Wiley Rein LLP on

On May 31, 2023, the U.S. Department of the Treasury's Internal Revenue Service (IRS) released additional guidance on the implementation and administration of Internal Revenue Code §48C—The Qualifying Advanced Energy Project...more

Husch Blackwell LLP

IRS Releases Guidance on Domestic Content Bonus Credit Amounts

Husch Blackwell LLP on

On May 12, 2023, in Notice 2023-38 (the “Notice”), the IRS published rules intended for inclusion in forthcoming regulations regarding domestic content bonus credit amounts. The Inflation Reduction Act of 2022 amended §§...more

Allen Matkins

Renewable Energy Update - 5.18.23

Allen Matkins on

Demand for energy is expected to soar by mid-century as the state attempts to electrify everything from transportation to home-heating systems. To help get there, the California Independent System Operator recently proposed...more

Wiley Rein LLP

Treasury and IRS Provide Initial Guidance on Inflation Reduction Act Domestic Content Bonus Credit Requirements

Wiley Rein LLP on

On May 12, 2023, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued initial guidance on the Inflation Reduction Act’s (IRA) requirements for domestic content bonus tax credits for...more

Holland & Knight LLP

Treasury Department, IRS Release Clean Vehicle Tax Guidance

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS have released several pieces of guidance regarding the tax incentives for clean vehicles provided under Sections 30D (new clean vehicle credit), 25E (previously owned vehicle...more

Holland & Knight LLP

Treasury Department Issues Section 48D Guidance on CHIPS Act Semiconductor Tax Incentive

Holland & Knight LLP on

The Chips and Science Act of 2022 (CHIPS Act) added Section 48D to the Internal Revenue Code to incentivize the manufacture of semiconductors and semiconductor manufacturing equipment in the United States. The credit is equal...more

Morgan Lewis

IRS and DOE Publish Details on First Allocation of $10B Section 48C Green Technology Industry Tax Credits Authorized by IRA

Morgan Lewis on

he Internal Revenue Service (IRS), the Treasury Department (Treasury), and the Department of Energy (DOE) released Notice 2023-18 (Notice) on February 13, detailing the procedures through which the IRS and DOE will award a...more

Stoel Rives LLP

Treasury Issues Guidance on Section 48C Credit Allocation Program

Stoel Rives LLP on

On February 13, 2023, the U.S. Department of the Treasury released Internal Revenue Service (IRS) Notice 2023-18, Initial Guidance Establishing Qualifying Advanced Energy Project Credit Allocation Program Under Internal...more

Bradley Arant Boult Cummings LLP

The clock is ticking on the IRA’s prevailing wage and apprenticeship requirements

Renewable energy developers and contractors have been anticipating the Treasury Department and IRS’s initial guidance on what is required to satisfy the prevailing wage and apprentice requirements under the Inflation...more

Mintz - Energy & Sustainability Viewpoints

Last Call: Public Comments on Inflation Reduction Act Clean Energy Tax Incentives Are Requested By November 4

On October, 5, 2022, the U.S. Department of Treasury (Treasury) and Internal Revenue Service (IRS) published six Notices requesting public comments by November 4, 2022 on certain of the clean energy tax incentives included in...more

Mintz - ML Strategies

Energy & Sustainability Washington Update — November 2022

Mintz - ML Strategies on

Congress was in recess for the month of October for the final push toward the November 8 midterm elections, but executive branch activities related to energy and sustainability have continued. Treasury & IRS Seek Public...more

Husch Blackwell LLP

U.S. Treasury Department Seeks Input On Six Notices Related to Inflation Reduction Act

Husch Blackwell LLP on

On October 5, 2022, the U.S. Department of the Treasury highlighted six separate notices requesting initial general public comments in response to specific sets of questions pertaining to climate and clean energy tax...more

McDermott Will & Emery

Key International Tax Proposals in the Biden Administration’s Green Book and Their Potential Impact on Businesses

McDermott Will & Emery on

On May 28, 2021, the US Department of the Treasury (Treasury) released the Fiscal Year (FY) 2022 budget and Green Book, which provides detailed insights into the proposals of US President Joe Biden’s recently released...more

Womble Bond Dickinson

Senator Tim Scott Considers Bill to Modify Opportunity Zones

Womble Bond Dickinson on

Last week at the United States Conference of Mayors, Senator Tim Scott (R – S.C.) announced that he was considering a bill to let state and local governments amend the census tracts they chose to designate as part of the...more

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