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Client Alert May 20, 2024
IRS and Treasury Issue Notice 2024-41 Providing Additional Guidance on “Domestic Content” for ITC- and PTC-Eligible Projects
The Notice provides a new elective safe harbor that should reduce the practical difficulties that taxpayers face in seeking to demonstrate that their clean energy projects are eligible for the Domestic Content Bonus Credit by reducing the circumstances when taxpayers will be forced to engage in cumbersome or impractical substantiation of third-party costs.
Client Alert April 26, 2024
IRS and Treasury Issue Final Regulations Regarding Domestically Controlled REIT Qualification Test
The Final Regulations modify the “look-through” rule for certain domestic C corporations, and introduce a new ten-year transition rule.
Client Alert March 7, 2024
Corporate Resolutions 2023 Year-End Update
Our Corporate Resolutions Update reports key statistics regarding U.S. Department of Justice non-prosecution agreements, deferred prosecution agreements (DPA), and corporate enforcement policy disgorgement since 2000; reports key statistics on guilty pleas between 2022 and 2023; assesses recent developments regarding enforcement policy and DPA regimes abroad; and summarizes the 31 agreements from July to December 2023.
Client Alert December 1, 2023
IRS and Treasury Issue Proposed Investment Tax Credit Regulations for Energy Property
Our lawyers provide background on the investment tax credit for energy property, summarize the proposed regulations issued by the IRS and Treasury, and share key implications for taxpayers.