The Internal Revenue Service (IRS) recently issued Notice 2024-30, which modifies guidance previously issued relating to the energy community “adder” for the investment tax credit and the production tax
Continue Reading IRS Adds 446 Potential Energy Communities; Eases Energy Community Rules for Offshore WindDavid Gillespie
David Gillespie is a transactional lawyer focusing on tax, energy transition and infrastructure. He regularly advises clients on energy-related tax credits under the Inflation Reduction Act from both project development and financing perspectives. His practice includes project development, tax-equity financings, cross-border and domestic mergers and acquisitions, leasing and other complex transactions, with a concentration in renewable energy. David’s experience includes advising developers, sponsors, major financial institutions, tax equity investors, energy and infrastructure funds, among others in a wide range of sectors, including solar, wind, battery storage, electric vehicles, carbon capture and sequestration, geothermal, nuclear, renewable natural gas, hydro, clean fuels, conventional power, transportation, social infrastructure, rail, aviation, and maritime.
David previously was a founder of an international advisory business for the structured financing of energy, transportation, and infrastructure assets.
IRS and Treasury Department Issue Final and Proposed Regulations Regarding ‘Direct Pay’ Rules Under Inflation Reduction Act and Code Section 6417, Notice Regarding ‘Chaining’ and Revised FAQs
On March 11, the Treasury Department and Internal Revenue Service (IRS) issued final regulations (Final Regulations) under Section 6417 of the Internal Revenue Code (Code), providing rules for the elective…
Continue Reading IRS and Treasury Department Issue Final and Proposed Regulations Regarding ‘Direct Pay’ Rules Under Inflation Reduction Act and Code Section 6417, Notice Regarding ‘Chaining’ and Revised FAQsMonetizing Clean Energy Credits: IRS Opens Registration Portal
The Internal Revenue Service (IRS) opened the portal for taxpayers to register for elective payment (under Section 6417 of the Internal Revenue Code (Code)) or transfer (under Section 6418 of…
Continue Reading Monetizing Clean Energy Credits: IRS Opens Registration PortalClean Hydrogen Tax Credits: IRS Releases Proposed Treasury Regulations
The Internal Revenue Service (IRS) and U.S. Department of the Treasury (Treasury) issued proposed regulations, published in the Federal Register Dec. 26, 2023, applicable to clean hydrogen production facilities.…
Continue Reading Clean Hydrogen Tax Credits: IRS Releases Proposed Treasury Regulations