Recent News

Thursday, October 3, 2019

Sens. Maggie Hassan, D-N.H., and Susan Collins, R-Maine, introduced legislation that includes a provision to reinstate and increase the Internal Revenue Code Section 45L credit for energy efficient new homes. Similar legislation was introduced in the House of Representatives. The New Home Energy Efficiency Act would reinstate and extend the Section 45L credit, which expired at the end of 2017, through 2022.

Friday, September 27, 2019

The U.S. Appeals Court for the Federal Circuit affirmed Sept. 26 a U.S. Court of Federal Claims decision in the Alternative Carbon Resources LLC v. United States case that Alternative Carbon Resources cannot show that it was entitled to claim the alternative fuel mixture credits under Section 6426, nor can it show that it had reasonable cause to do so.

Friday, September 13, 2019

Reps. James Langevin, D-R.I., and Peter Welch, D-Vt., yesterday introduced the Building Efficiently Act of 2019 (H.R. 4317) to extend through 2020 and expand the Section 45L new energy-efficient home credit and to create a new tax credit worth up to 3.3 percent of the total construction cost for residential rental properties that reduce energy use by 40 percent or more.

Wednesday, September 11, 2019

The Internal Revenue Service will publish in tomorrow’s Federal Register a notice inviting comments on Notice 2010-54, which provided guidance regarding claiming the production tax credit (PTC) for refined coal. Among other things the notice modified the definition of refined coal and allowed certain processing of utility-grade coal to be taken into account for determining emissions reductions.

Wednesday, September 4, 2019

In a bench opinion, a United States Tax Court judge ruled that investors were bona fide partners in a refined coal production facility and were entitled to tax credits. The decision in Cross Refined Coal, LLC, USA Refined Coal, LLC, Tax Matters Partner v. Commissioner of Internal Revenue concerned whether Cross Refined Coal, LLC was a bona fide partnership and whether the tax credit investors were bona fide partners.

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Novogradac 2019 Financing Renewable Energy Tax Credits Conference Parc 55 San Francisco, a Hilton Hotel May 23-24, 2019