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 Wind
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
On June 14, 2023, the IRS released proposed and temporary regulations and additional guidance describing rules for eligible taxpayers to benefit from clean energy projects through selling any of the
Continue Reading Proposed Regulations under Section 6418 Transferability of Clean Energy Tax Credits
The Internal Revenue Service issued Notice 2023-17 providing guidance on the Low-Income Communities Bonus Credit Program established under Internal Revenue Code Section 48(e) including environmental justice solar and wind capacity
Continue Reading IRS Releases Guidance on the Low-Income Communities Bonus Credit Program for Solar and Wind Facilities
The Internal Revenue Service issued Notice 2023-18 establishing a program to allocate $10 billion of credits for qualified investments in eligible qualifying advanced energy projects under Internal Revenue Code Section
Continue Reading IRS Establishes a Program to Allocate Credits to Qualifying Advanced Energy Projects
On June 29, 2021, the Internal Revenue Service (IRS) released Notice 2021-41 (the “Notice”) granting additional relief for certain renewable energy projects planning to claim the U.S. federal production tax
Continue Reading Notice 2021-41: Further Extension of the Continuity Safe Harbor for Renewable Energy Projects
On Feb. 19, 2020, the IRS released Notice 2020-12 and Revenue Procedure 2020-12 (together, the “Carbon Guidance”) which provide highly anticipated clarity on the Internal Revenue Code Section 45Q credit
Buried within last December’s massive Tax Cuts and Jobs Act of 2017, Pub. L. No. 115–97, 131 Stat. 2054 (TCJA), is an obscure provision that may change the litigation and
Continue Reading The Taxman (May Not) Cometh: The Deductibility of Environmental ‘Penalties’
On August 18, 2011, the Internal Revenue Service (IRS) issued final regulations regarding the types of facilities that qualify as “solid waste disposal facilities” under section 142(a)(6) of the Internal Revenue Code and therefore are eligible for financing with tax-exempt private activity bonds. In their GT Alert, Carla Young and Vanessa Albert Lowry examine the new regulations.
Continue Reading IRS Issues Final Regulations on Solid Waste Disposal Facilities