IRS issues guidance on electing investment tax credits in lieu of production tax credits; guidance regarding cash grants expected in July *

USA - June 10 2009
The American Recovery and Reinvestment Act of 2009 (the "Recovery Act") included a number of significant changes affecting businesses engaged in the renewable energy market.

Co-authors: Angelo Ciavarella, Arnold E. Grant, Ruth N. Holzman.

IRS issues guidance on theft loss deduction for "Ponzi" scheme victims *

USA - April 6 2009
On March 17, 2009, the Internal Revenue Service ("IRS") issued Revenue Ruling 2009-9, which describes the IRS position with respect to the tax consequences associated with losses incurred by taxpayers who are victims of a "Ponzi" scheme.

Co-authors: Arnold E. Grant, Michael A. Meyers.