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1 week ago | 
mondaq.com | Kenneth Parsons |Nicole Elliott |Kayla Gebeck Carroll |Isabella Warren
The U.S. Department of the Treasury on March 25, 2025, publisheda notice titled "Compliance Reviews and Related RecoupmentEfforts," informing all Coronavirus State and Local FiscalRecovery Funds (SLFRF) recipients that the Treasury Departmentintends to vigorously monitor recipients' methods of obligatingfunds by the Dec. 31, 2024, deadline, as well as recapture anyfunds obligated in violation of SLFRF rules and guidance andunobligated funds.
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2 months ago | 
mondaq.com | Bryan Marcelino |Bradley Seltzer |Nicole Elliott |Elizabeth C. Crouse
HK Holland & Knight More Holland & Knight is a global law firm with nearly 2,000 lawyers in offices throughout the world. Our attorneys provide representation in litigation, business, real estate, healthcare and governmental law. Interdisciplinary practice groups and industry-based teams provide clients with access to attorneys throughout the firm, regardless of location. The U.S. Department of the Treasury and IRS on Nov.
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Jan 10, 2025 | 
mondaq.com | Amish Shah |Nicole Elliott |Bradley Seltzer |Elizabeth C. Crouse
The U.S. Department of the Treasury and IRS on Jan. 7, 2025,released final regulations regarding the cleanelectricity production tax credit (PTC) determined under Section45Y, as well as the clean electricity investment tax credit (ITC)determined under Section 48E of the Internal Revenue Code. Enactedby the Inflation Reduction Act, Section 45Y and Section 48E replacethe traditional Section 45 PTC and Section 48 ITC and apply toprojects placed in service after Dec. 31, 2024.
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Jan 8, 2025 | 
mondaq.com | Amish Shah |Nicole Elliott |Bradley Seltzer |Elizabeth C. Crouse
The U.S. Department of the Treasury and IRS on Jan. 3, 2025,released final regulations regarding the production taxcredit (PTC) for hydrogen under Section 45V of the Internal RevenueCode, as enacted by the Inflation Reduction Act. The U.S.Department of Energy intends to release a new version of45VH2-GREET with an accompanying user manual later this month.
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Dec 9, 2024 | 
mondaq.com | Nicole Elliott |Bradley Seltzer |Elizabeth C. Crouse |Roger David Aksamit
HK
Holland & Knight
More
Holland & Knight is a global law firm with nearly 2,000 lawyers in offices throughout the world. Our attorneys provide representation in litigation, business, real estate, healthcare and governmental law. Interdisciplinary practice groups and industry-based teams provide clients with access to attorneys throughout the firm, regardless of location.
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Dec 9, 2024 | 
mondaq.com | Amish Shah |Nicole Elliott |Bradley Seltzer |Elizabeth C. Crouse
The U.S. Department of the Treasury and IRS released the final
regulations for the Section 48 energy credit, also known as the
investment tax credit (ITC).
The final regulations provide guidance on various renewable
energy generation technologies, as well as qualified biogas
property, interconnection property and energy storage technology. The final regulations also finalize the prevailing wage and
apprenticeship requirements with respect to the Section 48 ITC.
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Nov 1, 2024 | 
mondaq.com | Nicole Elliott |Joshua David Odintz |Amish Shah |Mary Nicholson
The Chips and Science Act of 2022 (CHIPS Act) added Section 48D
to the Internal Revenue Code to incentivize the manufacture of
semiconductors and semiconductor manufacturing equipment.
The Section 48D credit is generally 25 percent of the basis of
any qualified property that is part of an eligible taxpayer's
advanced manufacturing facility.
The U.S. Department of the Treasury and IRS recently released
final regulations under Section 48D, which provide helpful
clarifications.
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Oct 29, 2024 | 
lexology.com | Nicole Elliott |Joshua David Odintz |Amish Shah |Mary Nicholson
Highlights The Chips and Science Act of 2022 (CHIPS Act) added Section 48D to the Internal Revenue Code to incentivize the manufacture of semiconductors and semiconductor manufacturing equipment. The Section 48D credit is generally 25 percent of the basis of any qualified property that is part of an eligible taxpayer's advanced manufacturing facility. The U.S. Department of the Treasury and IRS recently released final regulations under Section 48D, which provide helpful clarifications.
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Aug 12, 2024 | 
lexology.com | Amish Shah |Beth Viola |Mary Nicholson |Alexander Lewis |Isabel Lane |Nicole Elliott
HighlightsThe IRS on July 24, 2024, released Notice 2024-60, which provides Internal Revenue Code Section 45Q guidance for utilization of carbon dioxide and other carbon oxides. The Notice addresses the information that must be included in the required life cycle analysis report (LCA Report), procedures for submitting the LCA Report and supporting information required to be provided to the IRS and U.S. Department of Energy (DOE) for review.
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Aug 8, 2024 | 
mondaq.com | Nicole Elliott |Bradley Seltzer |Elizabeth C. Crouse |Roger David Aksamit
HK
Holland & Knight
More
Holland & Knight is a global law firm with nearly 2,000 lawyers in offices throughout the world. Our attorneys provide representation in litigation, business, real estate, healthcare and governmental law. Interdisciplinary practice groups and industry-based teams provide clients with access to attorneys throughout the firm, regardless of location.
