The Inflation Reduction Act, Pub. L. No. 117-169, 136 Stat. 1818 (Aug. 16, 2022), among other things creates tax incentives for clean energy development. The IRA enhances those tax credits
Continue Reading Environmental Law and the Brownfield ‘Energy Community’ Clean Energy Tax Credit Bonus Under the IRATax
Monetizing 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 RegulationsGreenberg Traurig Adds Tax Veteran David Gillespie to Energy & Natural Resources Practice
Greenberg Traurig continues the strategic expansion of its Energy & Natural Resources Practice with the addition of energy tax attorney David Gillespie as a shareholder in New York. Gillespie joins…
Continue Reading Greenberg Traurig Adds Tax Veteran David Gillespie to Energy & Natural Resources PracticeProposed Treasury Rules on Prevailing Wage and Apprenticeship for Clean Energy Credits Incentivize Use of Project Labor Agreements
On Aug. 30, 2023, the U.S. Department of the Treasury published proposed regulations (Proposed Rules) addressing the prevailing wage and apprenticeship requirements imposed by the Inflation Reduction Act…
Continue Reading Proposed Treasury Rules on Prevailing Wage and Apprenticeship for Clean Energy Credits Incentivize Use of Project Labor AgreementsU.S. Treasury Announces $5 Billion Allocation of New Markets Tax Credit Awards
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credit (NMTC) awards on Sept. 22, with the goal of…
Continue Reading U.S. Treasury Announces $5 Billion Allocation of New Markets Tax Credit AwardsCBAM Reporting Requirement Begins Oct. 1, 2023
The Carbon Border Adjustment Mechanism (CBAM) is the European regulation that imposes a reporting obligation and a carbon tax on EU imports of certain goods in order to reduce carbon…
Continue Reading CBAM Reporting Requirement Begins Oct. 1, 2023Proposed Regulations under Section 6418 Transferability of Clean Energy Tax Credits
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 CreditsProposed Regulations under Section 6417 Direct Pay for Clean Energy Tax Credits
On June 14, 2023, the IRS released proposed and temporary regulations and additional guidance describing rules for applicable taxpayers to benefit from clean energy projects through electing to receive direct…
Continue Reading Proposed Regulations under Section 6417 Direct Pay for Clean Energy Tax CreditsJune 21 WEBINAR | Clean Energy Tax Credits: Direct Pay and Transferability – New Guidance Explained
The energy community has eagerly anticipated the release of guidance related to new Code Sections 6417 and 6418 covering direct pay and transferability of renewable and alternative energy tax credits.…
Continue Reading June 21 WEBINAR | Clean Energy Tax Credits: Direct Pay and Transferability – New Guidance Explained