Transferability of Energy Credits under the Inflation Reduction Act: What do you need to know?
Now that final regulations on the transferability of energy tax credits under the Inflation Reduction Act have been issued by the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS), many investors and developers are structuring and negotiating transactions to transfer…
SOS: We are flying to Europe in two hours and don't have an estate plan!
Most attorneys who work in the estate planning field have received a panicky, last-minute call from a client or potential client who is about to go overseas on a big trip (generally, the vacation of a lifetime). The anxiety, uncertainty, and excitement of the coming adventure come together and…
Low-Income Communities Bonus Credit Applications Opening Date Announced
The U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) announced on May 13, 2024, the opening date for applications for the 2024 program year of the Low-Income Communities Bonus Credit Program (Bonus Credit Program) under Section 48(e) of the Internal Revenue Code. Last…
Tools for Investing Proceeds of Tax-Exempt Bonds
April 17, 2024
by Ashley Edwards
In a previous article, we introduced the fundamental concepts of the yield restriction and rebate rules set out in the Internal Revenue Code and Treasury Regulations and how tax-exempt bonds may be affected by high interest rates. But, as the saying goes, for every rule there is an exception, and…
IRS Releases 2024 Procedural Guidance for Solar and Wind Projects in Low Income Communities
Last week the Department of Treasury and Internal Revenue Services (IRS) issued procedural guidance for the second year of the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code (Code). The program created by the Inflation Reduction Act provides an increase…