This program will provide an overview of the clean energy tax credits enacted, expanded, or enhanced by the Inflation Reduction Act of 2022. The panel will discuss recent IRS guidance on prevailing wage and apprenticeship requirements for full tax credit qualification and the credit enhancement for location in an “energy community”. The panel will also discuss direct payment of tax credits, the transfer of tax credits to third parties for cash consideration, and other essential topics under the Inflation Reduction Act.
Key topics to be discussed:
Base and Bonus Credits for Solar, Wind, and other Clean Energy Technologies
Credit Enhancements for Energy Community, Domestic Content, and Low-Income Community
Direct Pay and Transferability of Tax Credits
Implications of the IRA for Transactions
Date: May 18, 2023
Anne C. Loomis | Troutman Pepper Hamilton Sanders LLP
Anne is a partner in the firm’s Tax Practice Group. She focuses her practice on federal, state, and local tax planning with an emphasis on the unique tax issues facing rate-regulated public utilities and other energy industry clients. Having previously served as tax counsel for a Fortune 500 corporation specializing in electric generation and distribution and gas transmission, Anne has extensive experience working on acquisitions, dispositions, and reorganizations. Anne regularly advises clients on structuring investments that produce federal and state tax benefits, with an emphasis on energy tax credits.
Anne has represented clients in IRS audits, IRS appeals conferences, controversies with state taxing authorities, and the U.S. Tax Court, and in the preparation of requests for private letter rulings from the IRS.
Adam C. Kobos | Troutman Pepper Hamilton Sanders LLP
Adam is a nationally recognized attorney whose practice encompasses a wide array of tax matters for energy industry clients, including utilities, tax equity investors, and project developers and sponsors. Adam regularly represents clients who develop, acquire, or invest in renewable energy projects (including wind, solar, geothermal, waste-to-energy, biomass, hydroelectric, and other renewable energy generation facilities), energy storage facilities, and electric vehicle charging and other alternative fuel refueling facilities. He helps clients qualify for federal, state, and local tax incentives and implement transaction structures that maximize the value of those incentives, including partnership flips, sale-leasebacks, and inverted leases.
Adam also represents clients in mergers and acquisitions, debt and equity offerings, transactions involving partnerships, LLCs, and other pass-through entities, and tax controversy matters.
Roger S. Reigner | Troutman Pepper Hamilton Sanders LLP
Since 1985, Roger has practiced in the areas of federal, state, and local tax planning and controversies, with an emphasis on the unique tax and accounting issues facing rate-regulated public utilities. He has recently focused on matters such as the use of tax credits and incentives for the acquisition of utility scale renewable energy projects, sales and use tax advice and litigation, property tax advice and litigation, non-shareholder contributions to capital, VEBA taxation, and the taxation of nuclear decommissioning trust funds.
Roger has represented clients in numerous tax controversies with the IRS at the audit and appeals level, as well as in the preparation of private letter rulings and technical advice for IRS National Office consideration. Although most controversies have been resolved at the administrative level, when necessary, Roger has represented clients in tax litigation before the U.S. Tax Court, the U.S. District Court, the Court of Appeals as well as state and local courts, boards, and other tribunals.
I. Base and Bonus Credits for Solar, Wind, and other Clean Energy Technologies | 11:00am – 11:30am
II. Credit Enhancements for Energy Community, Domestic Content, and Low-Income Community | 11:30am – 12:00pm
Break | 12:00pm – 12:10pm
III. Direct Pay and Transferability of Tax Credits | 12:10pm – 12:25pm
IV. Implications of the IRA for Transactions | 12:25pm – 12:40pm