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IRS issues additional guidance on beginning of construction rules for renewable projects

  • McDermott Will & Emery
  • -
  • USA
  • -
  • March 23 2015

The Internal Revenue Service (IRS) issued Notice 2015-25 (Notice) on March 11, 2015, to provide further guidance on meeting the beginning of

Comparison of key energy-related tax provisions in the President’s 2015 Budget Proposal and the Camp and Baucus Proposals

  • McDermott Will & Emery
  • -
  • USA
  • -
  • April 14 2014

On March 4, 2014, President Obama released his budget proposal for the 2015 fiscal year (Budget Proposal), which contains energy-related tax

IRS provides procedures for election of investment tax credit in lieu of production tax credit

  • McDermott Will & Emery
  • -
  • USA
  • -
  • June 9 2009

The notice provides welcome guidance but may place significant filing requirements on renewable energy projects

Treasury, DOE accepting applications for grants in lieu of tax credits for renewable energy projects

  • McDermott Will & Emery
  • -
  • USA
  • -
  • August 4 2009

The Treasury and U.S. Department of Energy estimate that at least $3 billion in financial support will be distributed to approximately 5,000 renewable energy production facilities

Treasury issues guidance on “beginning of construction” for 1603 grants

  • McDermott Will & Emery
  • -
  • USA
  • -
  • July 1 2010

The U.S. Treasury Department has clarified when construction begins in order to qualify for 1603 cash grants in lieu of tax credits

Private letter ruling issued addressing the public benefit exception under IRC Section 118(b) relating to contributions in aid of construction

  • McDermott Will & Emery
  • -
  • USA
  • -
  • July 21 2010

A private letter ruling, particularly important to utility companies that receive payments to facilitate the relocation of transmission equipment, was recently issued

Energy bill discussion draft includes deemed tax payment in lieu of production tax credits and investment tax credits

  • McDermott Will & Emery
  • -
  • USA
  • -
  • July 30 2010

A discussion draft of the Domestic Manufacturing and Energy Jobs Act of 2010, which was recently introduced by Acting House Ways and Committee Chair Sander M. Levin, includes several significant energy-related tax provisions

Committee on Ways and Means to hold hearing on energy tax incentives

  • McDermott Will & Emery
  • -
  • USA
  • -
  • April 9 2010

The House Committee on Ways and Means is currently accepting written comments for consideration at an April 14, 2010, hearing on energy tax incentives

Key energy-related tax provisions in the 2011 budget proposal

  • McDermott Will & Emery
  • -
  • USA
  • -
  • February 9 2010

President Obama's budget proposal reveals the administration's agenda and priorities with respect to energy tax issues

Another push offshore: proposed legislation introduced to incentivize offshore wind projects

  • McDermott Will & Emery
  • -
  • USA
  • -
  • March 8 2010

The proposed bills would specifically apply the production tax credit and the investment tax credit to offshore wind facilities and would provide for a January 1, 2020, expiration date of these tax credits