Final Regs Allow Certain Co-Owned Elective Pay Entities to Opt Out of Partnership Treatment
The IRS finalized regs providing guidance on how clean energy projects with multiple owners can elect to not be treated …
TIGTA to ‘Remain Vigilant’ of IRS’ Inflation Reduction Act Spending
In its latest semiannual report to Congress, the Treasury Inspector General for Tax Administration pledged to devote funding received from …
Inflation Reduction Act Progress Report Pt. 2: Industry Impact
Tax professionals are giving the IRS credit for how it has prepared to administer the dozens of tax provisions under …
Inflation Reduction Act Progress Report Pt. 1: Rubber Meet Road
Since the enactment of landmark legislation last summer packed with tax provisions intended to incentivize green energy project development or …
IRS Commissioner Details Strategic Operating Plan for Inflation Reduction Act Funding
On April 6, 2023, new IRS Commissioner Daniel Werfel and Deputy Treasury Secretary Wally Adeyemo held a conference call to discuss …
2023 Tax Outlook Pt. 1: Lame Duck Session, Split Congress Expectations
This two-part series forecasts tax developments the remainder of this month and the new year will bring. Part 1 begins …
Public Comment Sought on Additional Clean Energy Tax Provisions
The Department of the Treasury and the IRS on November 3 issued three additional notices requesting public comment on climate …
New Energy Credit Labor Rules Affect Construction, Lawyers Says
Eligibility enforcement of higher tax credit rates for qualifying energy construction projects under the Inflation Reduction Act (PL 117-169) hinges …
Oil and Gas Companies Will be Most Impacted by Inflation Reduction Act, Moody’s Says
Oil and gas companies will have to pay more taxes under the Inflation Reduction Act of 2022, according to accounting …
The Long Read: Advising Clients on New Corporate Minimum Tax
By Shannon Christensen and Joseph Boris The 15% corporate alternative minimum tax in the recently signed Inflation Reduction Act of …