Jerome Garciano

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Articles

IRS Issues Proposed Rules on New Tech-Neutral Clean Energy PTC and ITC | JD Supra

May 31, 2024 | jdsupra.com | Shariff Barakat |Amy Elliott |Jerome Garciano

On May 29, 2024, the Internal Revenue Service (IRS) and the Department of Treasury issued proposed regulations (REG-119283-23) addressing the new technology neutral clean electricity production tax credit (PTC) in section 45Y and the clean electricity investment tax credit (ITC) in section 48E, each of which was designed to become available for projects that are placed in service after December 31, 2024, when their corresponding predecessors (sections 45 and 48, respectively) generally expire.
IRS Issues Proposed Rules on New Tech-Neutral Clean Energy PTC and ITC

May 30, 2024 | lexology.com | Shariff Barakat |Scott Heimberg |Matthew Kapinos |Susan Lent |Daniel Lynch |Jeffrey D. McMillen | +4 more

On May 29, 2024, the Internal Revenue Service (IRS) and the Department of Treasury issued proposed regulations (REG-119283-23) addressing the new technology neutral clean electricity production tax credit (PTC) in section 45Y and the clean electricity investment tax credit (ITC) in section 48E, each of which was designed to become available for projects that are placed in service after December 31, 2024, when their corresponding predecessors (sections 45 and 48, respectively) generally expire.
IRS Updates PTC and ITC Domestic Content Bonus Guidance | JD Supra

May 23, 2024 | jdsupra.com | Shariff Barakat |Amy Elliott |Jerome Garciano

On May 16, 2024, the Internal Revenue Service (IRS) issued further guidance (Notice 2024-41, the Additional Notice) intended to provide clarity and certainty surrounding the domestic content1 bonus credit by (among other changes) adding a new elective safe harbor designed to make it easier for taxpayers to establish that they qualify for the bonus amount, which is only available for certain of the clean energy production and investment tax credits (PTC and ITC) added or amended by the...
IRS Updates PTC and ITC Domestic Content Bonus Guidance

May 22, 2024 | lexology.com | Shariff Barakat |Scott Heimberg |Matthew Kapinos |Susan Lent |Daniel Lynch |Jeffrey D. McMillen | +4 more

On May 16, 2024, the Internal Revenue Service (IRS) issued further guidance (Notice 2024-41, the Additional Notice) intended to provide clarity and certainty surrounding the domestic content1 bonus credit by (among other changes) adding a new elective safe harbor designed to make it easier for taxpayers to establish that they qualify for the bonus amount, which is only available for certain of the clean energy production and investment tax credits (PTC and ITC) added or amended by the...