New IRS Guidance for PTC and ITC Domestic Content Bonus Credit: Key Issues, Taxpayer Eligibility, New Safe Harbors
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE webinar will provide attorneys and tax professionals insight on key components of recent IRS updated guidance regarding the domestic content bonus credit under Sections 45, 48, 45Y, and 48E. The panel will discuss key items under recently issued Notice 2024-41, applicable projects and the domestic content bonus opportunity, the description of domestic content items, certification and recordkeeping requirements, and next steps for taxpayers.
Outline
- Inflation Reduction Act of 2022: 10 percent domestic content bonus credit on renewables
- Impact of 10 percent bonus credit for projects
- Notice 2024-41: key provisions and challenges
- Certification and recordkeeping
- Key issues and pitfalls to avoid for renewable projects
Benefits
The panel will discuss these and other key issues:
- Inflation Reduction Act of 2022 and the 10 percent domestic content bonus credit
- Key items and challenges stemming from IRS Notice 2024-41
- Requirements and processes involved to qualify for the domestic content bonus credit
- Determining classification of the components of the completed project in light of recent guidance
- Safe harbor requirements and pitfalls to avoid
- Navigating the certification and recordkeeping requirements
Faculty
Matt Kaden, JD, LLM
Managing Director
Moss Adams
Mr. Kaden has practiced federal income taxation since 2007. He has special expertise in the federal income taxation of... | Read More
Mr. Kaden has practiced federal income taxation since 2007. He has special expertise in the federal income taxation of flow-through entities, including partnerships, LLCs, and S corporations, and is an industry leader in the structuring and taxation of energy transactions, particularly in the energy transition and decarbonization areas. In his previous role at North America’s largest developer of renewable energy, Mr. Kaden was responsible for the structuring and tax-advantaged financing of over $10 billion in renewable energy and decarbonization projects via tax equity and private equity, and many more through public equity and debt raises. He was also responsible for all tax advice and modeling for the company’s publicly traded yieldco and electricity hedging and trading activities.
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Anne S. Levin-Nussbaum
Partner
Akerman
Ms. Levin-Nussbaum's practice encompasses a broad spectrum of US federal income tax matters, with a particular... | Read More
Ms. Levin-Nussbaum's practice encompasses a broad spectrum of US federal income tax matters, with a particular emphasis on renewable energy transactions and financing.
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Marc D. Nickel
Senior Vice President
Aon M&A and Transaction Solutions
Mr. Nickel advises business on a broad range of energy issues related to U.S. federal, state, and local taxes. He has... | Read More
Mr. Nickel advises business on a broad range of energy issues related to U.S. federal, state, and local taxes. He has provided counsel on the qualification of transactions for renewable energy tax credits, application of existing tax laws to new technologies, multi-state product launch transactions, and resolution of tax controversies at the federal and state level.
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