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New Legislation Would Expand the Use of Municipal Bonds
May 15, 2024 | Alert | By R. Neal Martin, Charles Samuels, Matthew O. Page, Christie Martin, Meghan Burke, Poonam Patidar
Read about the Local Infrastructure Financing Tools (LIFT) Act, pending legislation that calls for policy changes and types of bonds that could be used by governments and nonprofits nationwide for a range of public infrastructure and capital improvement projects.
IRA Update: IRS Releases Limited Guidance on Low-Income Community Adder and Establishes Allocation Program Needed to Make the Adder Available
February 16, 2023 | Alert | By Gregg M. Benson
Read about guidance released by the IRS on the Low-Income Community Adder and the newly established allocation program to make the adder available.
IRA Update: IRS Announces Updated Reference Standard for Energy Efficient Commercial Building Property Deduction Under Section 179D
December 28, 2022 | Alert | By Gregg M. Benson
Read about a new IRS reference standard for energy efficient commercial building property for purposes of the deduction under Section 179D of the Internal Revenue Code, which takes effect on January 1.
IRA Update: IRS Releases Reporting Requirements for EV Manufacturers and Sellers
December 22, 2022 | Alert | By Gregg M. Benson
Read about new IRS reporting requirements, issued in Revenue Procedure 2022-42, for manufacturers and sellers of new or previously owned clean vehicles or qualified new commercial clean vehicles eligible for tax credits under Internal Revenue Code Sections 30D, 25E, or 45W, respectively.
Public Comments Requested on Additional Aspects of the IRA Clean Energy Tax Incentives, including Clean Hydrogen Production, Carbon Capture and Sequestration, Clean Commercial Vehicles and EV Charging Stations
November 7, 2022 | Alert | By Gregg M. Benson, Xandy Walsh, David Salamon
On November 3, 2022, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) released three Notices requesting public comments by December 3, 2022, on certain additional aspects of the clean energy tax incentives included in the Inflation Reduction Act of 2022 (IRA). Treasury and the IRS previously released six Notices, on October 5, 2022, requesting public comments by November 4 on certain other aspects of the energy tax incentives, which are described in our alert. The Treasury and the IRS will consider written comments submitted after December 3 if such consideration will not delay the issuance of guidance.
Last Call: Public Comments on Inflation Reduction Act Clean Energy Tax Incentives Are Requested By November 4
November 3, 2022 | Alert | By Gregg M. Benson, Xandy Walsh
On October, 5, 2022, the U.S. Department of Treasury and Internal Revenue Service published six Notices requesting public comments by November 4, 2022 on certain of the clean energy tax incentives included in the Inflation Reduction Act of 2022. However, the IRS and Treasury will consider written comments received after November 4 that do not delay the relevant guidance. Input from industry stakeholders is important to help inform next steps for the IRS and Treasury and shape how these clean energy tax incentives are accessed in practice.