Zachary Rudisill

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.

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...

Dec 5, 2023 | lexology.com | Shariff Barakat |Suzanne Kane |Susan Lent |Yujin Kim McNamara |Zachary Rudisill |Amy Elliott | +2 more

On December 1, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations (REG-118492-23) with additional guidance on the excluded entities provision in the section 30D clean vehicle tax credit. The provision disqualifies vehicles from being eligible for the credit starting in 2024 if the vehicle’s battery contains battery components that were manufactured or assembled by a foreign entity of concern (FEOC).

Feb 9, 2023 | jdsupra.com | John Gilliland |Kenneth Markowitz |Zachary Rudisill

[co-author: Kerry Mackenzie]2022 marked a historic year for climate change action in the Executive Branch. The Biden-Harris administration continued to deploy a “whole-of-government” approach to combating climate change, securing over $300 billion in funding for climate projects in the Infrastructure Investment and Jobs Act (IIJA; P. L. 117-58) and the Inflation Reduction Act (IRA, P. L.