Philip Tingle

May 22, 2024 | jdsupra.com | Jennifer Chan |Heather Cooper |Philip Tingle

On May 16, 2024, the Internal Revenue Service (IRS) published Notice 2024-41 (Notice), which modifies Notice 2023-38 (Prior Notice) by providing a new elective safe harbor (Safe Harbor) that will allow taxpayers to use assumed domestic cost percentages in lieu of percentages derived from manufacturers’ direct cost information to determine eligibility for the domestic content bonus credit (Domestic Content Bonus).

May 21, 2024 | lexology.com | Heather Cooper |Philip Tingle |John Zhang |Jennifer Chan

On May 16, 2024, the Internal Revenue Service (IRS) published Notice 2024-41 (Notice), which modifies Notice 2023-38 (Prior Notice) by providing a new elective safe harbor (Safe Harbor) that will allow taxpayers to use assumed domestic cost percentages in lieu of percentages derived from manufacturers’ direct cost information to determine eligibility for the domestic content bonus credit (Domestic Content Bonus).

May 25, 2023 | jdsupra.com | Heather Cooper |Carl Fleming |Philip Tingle

May 31st, 2023 9:30 AM PT Join the McDermott Energy & Project Finance Practice Group for its spring webinar series: Navigating the New Energy Landscape. Register for State of the Tax Equity Market and Post-IRA Sources of Funding.

Feb 15, 2023 | jdsupra.com | Heather Cooper |Philip Tingle

February 15, 2023 To embed, copy and paste the code into your website or blog: The Internal Revenue Service (IRS) has released initial guidance on the low-income adder to the investment tax credit (ITC) under Section 48(e) (Low-Income Bonus). The guidance, released in IRS Notice 2023-17 (Notice), provides limited clarification regarding the Low-Income Bonus and leaves significant questions unanswered.

Feb 14, 2023 | lexology.com | Heather Cooper |Philip Tingle

The Internal Revenue Service (IRS) has released initial guidance on the low-income adder to the investment tax credit (ITC) under Section 48(e) (Low-Income Bonus). The guidance, released in IRS Notice 2023-17 (Notice), provides limited clarification regarding the Low-Income Bonus and leaves significant questions unanswered. Accordingly, most taxpayers will likely require further guidance on the application and approval process before transacting around the Low-Income Bonus.