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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

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. 

The new Notices seek public comments about the following clean energy tax credits added or expanded by the IRA.

  • Notice 2022-56 requests comments on the new tax credit for qualified clean commercial vehicles under Code Section 45W1 and the reinstated and expanded tax credit for alternative fuel vehicle refueling property under Code Section 30C. 

  • Notice 2022-57 requests comments on the IRA’s changes to the tax credit for carbon capture and sequestration under Code Section 45Q credit, including comments on defining the direct air capture technology that qualifies for a significantly higher credit.

  • Notice 2022-58 requests comments on the new tax credit for clean hydrogen production under Code Section 45V (including with respect to guidance to clarify the definition of “qualified clean hydrogen”) and the tax credit for clean fuel production  under Code Section 45Z (including the establishment of emission rates for qualifying fuel).  

Treasury and the IRS seek comments on the specific questions identified in the Notices and any matters not specifically identified. The specific questions in the Notices highlight the areas where the Treasury and the IRS intend to issue Treasury Regulations or other guidance and identify where they anticipate potential confusion or ambiguity. Input from industry stakeholders is important to help inform the development of guidance implementing the new and expanded clean energy tax incentives added by the IRA.

We will continue to provide updates concerning the implementation of the new tax incentives included in the IRA. 


FOOTNOTES

1 References to Code Sections are to the applicable section of the Internal Revenue Code of 1986, as amended (the “Code”).

©1994-2023 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. All Rights Reserved.National Law Review, Volume XII, Number 311
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About this Author

Anne S. Levin-Nussbaum Tax and Financial Industry Attorney Mintz, Levin, Cohn, Ferris, Glovsky and Popeo Law Firm
Member

Anne’s practice encompasses a broad spectrum of US federal income tax matters, with a particular emphasis on renewable energy transactions and financing.

Anne has counseled clients on tax matters for over 25 years, and has extensive experience with all facets of tax structures for renewable energy projects. In representing sponsors, lenders, and tax equity investors in the financing of residential, utility, and commercial wind and solar energy projects, she advises clients on the use of flip partnerships and other structures for allocating the ...

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David Salamon Tax Attorney Mintz
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David advises clients across a variety of industries on complex tax issues pertaining to mergers, acquisitions, restructuring, and additional matters.

Prior to joining the firm, David was a member of the Mergers & Acquisitions team at Deloitte Tax LLP, where he advised public corporations and private equity fund clients regarding the tax consequences of leveraged buyouts involving mergers, acquisitions, and restructuring. Earlier he served as a judicial extern in the United States Attorney’s Office in Camden, New Jersey, and as a judicial intern for the Hon. Joseph E. Irenas of...

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Xandy Walsh Securities Lawyer Boston Mintz
Associate

Xandy focuses his practice on corporate and securities law, transactions, venture capital and private equity matters, and general corporate matters. He works with companies in a variety of industries, including energy & sustainability.

Prior to joining Mintz and while earning his law degree, Xandy worked as a senior economist with the Massachusetts Department of Public Utilities. In this role, he advised the Department’s Commission on rate cases, special investigations, and other matters filed by utility companies. He also advised on...

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Gregg Benson Tax Attorney Mintz Law Firm
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Gregg has a multifaceted tax law practice that encompasses advising companies and individuals on a wide range of tax issues related to transactions, estate tax planning, and renewable energy projects.

Gregg has significant experience with tax issues involving US and cross-border taxable and tax-free mergers and acquisitions, spin-offs, cross­border tax structuring, partnerships, and limited liability companies. He regularly represents US and international sponsors of, and investors in, private equity and other investment funds, as well as...

212.692.6791
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