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Davis Wright Tremaine LLP

Trump Executive Order Introduces Further Uncertainty for Wind and Solar Projects

Days after signing into law the One Big Beautiful Bill Act (OBBBA), which dramatically rolled back the availability of federal tax credits for solar and wind power projects, President Trump issued an Executive Order (EO)...more

Foley & Lardner LLP

Executive Order on PTC and ITC Beginning of Construction

Foley & Lardner LLP on

President Trump yesterday issued an executive order, “Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources” (the “Executive Order”), which could have a major impact on wind and solar energy...more

Vinson & Elkins LLP

One Big Beautiful Bill Signed into Law – Impact on IRA Tax Credits

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On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act” (H.R. 1 119th Congress) (“OBBB”) into law. OBBB made changes to various tax provisions – including tax rates, modification of treatment of state and...more

Ropes & Gray LLP

2025 Tax Legislation Update: One Big Beautiful Bill Act Narrowly Passes Senate

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The “One Big Beautiful Bill Act” (the “BBB”) was passed by the U.S. House of Representatives on May 22, 2025 (such version, the “House Bill”) as part of the Republican Congress’s reconciliation package. The BBB generally...more

Baker Botts L.L.P.

The One Big Beautiful Bill Proposes to Severely Restrict Clean Energy Tax Incentives

Baker Botts L.L.P. on

On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”) that would, if enacted into law, severely restrict clean energy tax incentives. This client update addresses the BBB’s...more

Wilson Sonsini Goodrich & Rosati

The One Big Beautiful Bill: Tax Provisions Impacting the Energy and Climate Solutions Sector

On May 22, 2025, the U.S. House of Representatives approved H.R. 1, also known as the “One Big Beautiful Bill Act” (the House Bill).1 The House Bill will next be considered by the U.S. Senate, and the administration has set a...more

Harris Beach Murtha PLLC

Affordable Housing Credit Improvement Act Re-introduced in House of Representatives

On April 8, 2025, the federal Affordable Housing Credit Improvement Act (“AHCIA”) was reintroduced in the House with 117 bipartisan co-sponsors from over 30 different states. The bill would expand the Low-Income Housing Tax...more

Holland & Knight LLP

Key Highlights of the Section 48 ITC Final Regulations

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The U.S. Department of the Treasury and IRS on Dec. 12, 2024, issued Final Regulations regarding the investment tax credit (ITC) for Section 48 of the Internal Revenue Code, including the ITC for energy generation, energy...more

Foley Hoag LLP

Treasury and IRS Propose Long-awaited Regulations for the Inflation Reduction Act’s Hydrogen Production Tax Credit (Section 45V)

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On December 22, 2023, the Department of Treasury and Internal Revenue Service (collectively, “IRS”) proposed new regulations for the Inflation Reduction Act’s (“IRA”) Hydrogen Production Tax Credit (“PTC”), otherwise known as...more

King & Spalding

IRS and Treasury Issue Section 48 Investment Tax Credit Proposed Regulations

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Section 48 of the Internal Revenue Code of 1986, as amended (the “Code”) provides for an investment tax credit (“ITC”) for certain energy property. The Inflation Reduction Act of 2022 (the “IRA”) amended Section 48 in several...more

Vinson & Elkins LLP

Treasury Releases a Swath of Guidance on the Investment Tax Credit

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On November 17, 2023, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations [REG-132569-17] regarding the definition of “energy property” and related rules...more

Vinson & Elkins LLP

3 Developments That May Usher In A Nuclear Energy Revival

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Nuclear energy is experiencing a resurgence. As the world grapples with how best to address climate change, nuclear has found a seat at the table as a viable, zero-carbon energy source. While the appetite in the U.S. for...more

Sheppard Mullin Richter & Hampton LLP

Inflation Reduction Act: Prevailing Wage and Apprenticeship Requirement FAQs and Key Takeaways from the Initial Guidance from the...

As previously discussed in our blog Inflation Reduction Act: Wage and Apprenticeship Requirements, the Inflation Reduction Act (the “IRA”) restructured the tax credit system associated with qualified clean energy projects...more

King & Spalding

Hydrogen-Related Provisions of the Inflation Reduction Act of 2022

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The Inflation Reduction Act of 2022, passed by the Senate on August 7, 2022, includes a number of provisions projected to result in significant investments in domestic energy production and manufacturing, and reduce carbon...more

Latham & Watkins LLP

Treasury Finalizes Carbon Capture Tax Credit Regulations

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The US Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit. Key Points: ..The IRS finalized the third set of rules in a series of regulatory guidance...more

Opportune LLP

What Does IRS, Treasury Carbon Capture Tax Credit Guidance Mean For Future Energy Production?

Opportune LLP on

The Treasury Department and the IRS recently provided practical administrative guidance for carbon capture and sequestration tax credits, but what are the broader implications for future energy production?...more

Eversheds Sutherland (US) LLP

Ready, Set, Sequester? An updated guide to the Section 45Q Carbon Capture and Sequestration Credit Guidance

Section 45Q, as amended by the Bipartisan Budget Act of 2018 (BBA), provides a substantial tax credit for the capture and sequestration of carbon dioxide and other carbon oxides. Taxpayers have been awaiting guidance from the...more

A&O Shearman

IRS Issues Proposed Regulations On Section 45Q Carbon Oxide Sequestration Credits

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The U.S. Internal Revenue Service (IRS) and the U.S. Treasury Department (“Treasury”) have issued proposed regulations (REG-112339-19) providing valuable guidance on credits for the sequestration of qualified carbon oxide...more

Bracewell LLP

Treasury and the IRS Fuel Taxpayers' Confidence Regarding Section 45Q Credits following Call for Suspension of the Credits

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On May 28, 2020, the Department of Treasury and the Internal Revenue Service (IRS) issued proposed regulations (Proposed Regulations) under Section 45Q of the Internal Revenue Code (Section 45Q) for the capture, utilization...more

Latham & Watkins LLP

Future of Carbon Capture Looks Bright After Treasury Proposes Long-Awaited Regulations

Latham & Watkins LLP on

The Treasury Department and the IRS provided practical administrative rules for the carbon capture and sequestration tax credit. Key Points: ..These rules are the third in a series of regulatory guidance issued by the IRS...more

Bradley Arant Boult Cummings LLP

IRS Provides Additional Clarity Regarding Donations to Scholarship Granting Organizations - SALT Alert: Alabama Edition

On December 16, the Internal Revenue Service (IRS) and the Treasury Department issued proposed regulations... that provide some good news and needed clarification for C corporations, individuals, and S corporations and other...more

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