Insights Search
On March 5, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (the “Final Direct Pay Regulations”) regarding the direct pay election for certain tax credits available under section 6417 of the Internal Revenue Code of 1986, as amended (the “Code”).
Climate Week is about to kick off in New York, so Lauren Collins and Michael Joyce, both partners at the law firm of Vinson & Elkins, join the show to talk about what to expect from Climate Week, what kinds of news and announcements they will be keeping an eye on and how the overall conversation about Climate Week — and climate coverage in general — has evolved over the years.
On August 10, 2023, the Department of Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued final regulations (the “Final Regulations”) providing additional guidance to taxpayers on the “Low-Income Communities Bonus” (“LICB”) available under section 48(e) of the Internal Revenue Code of 1986, as amended.
On June 14, 2023, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations and temporary regulations regarding the direct pay election for certain tax credits available under section 6417 of the Internal Revenue Code of 1986, as amended (the “Code”).
Taxpayers have anxiously been awaiting clarity on energy community status based on the 2022 unemployment rates to establish location in an energy community through metropolitan statistical area (“MSA”) or non-metropolitan statistical area (“non-MSA”).
On June 14, 2023, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed and temporary regulations regarding the transfer elections for certain tax credits available under section 6418 of the Internal Revenue Code of 1986, as amended (the “Code”).
On May 12, 2023, the Department of the Treasury and Internal Revenue Service issued Notice 2023-38 (the “Notice”), providing guidance on the rules taxpayers must satisfy to qualify for the domestic content bonus credit (the “Domestic Content Bonus”) available under sections 45 and 48 of the Internal Revenue Code of 1986, as amended (the “Code”), for “qualified facilities” or “energy projects” placed in service after December 31, 2022, and under Code sections 45Y and 48E for “qualified facilities” or “energy storage projects” placed in service after December 31, 2024 (collectively, the “DC Projects”).
On March 31, 2023, the Department of Treasury (the “Treasury”) issued Proposed Treasury Regulation 120080-22 (the “Proposed Regulations”) under section 30D of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to the electric vehicle tax credit (the “EV Credit”).
In adopting a new plan to restrict the sale of new gasoline-powered cars and light trucks beginning in 2026—and to ban their sale entirely by 2035—California has redoubled its commitment to electric-vehicle transportation. A major milestone in the transition to a carbon-neutral economy, the plan has made headlines nationwide, and rightly so.
Following the passage of the Inflation Reduction Act of 2022 by the House and Senate, partner Lauren Collins breaks down the various components of the Act with Sean McMahon of the Renewable Energy Smartpod.
On August 12, 2022 – a little over two weeks after the legislation was announced and five days after it passed the Senate – the House passed the historic Inflation Reduction Act of 2022 (the “Act”).