The Internal Revenue Service issued proposed regulations on May 31, 2023, for the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code. The proposed regulations provide more details on the procedures and criteria of the application process for entities to be able to receive increased U.S. federal income tax credits for solar and wind facilities in low-income communities.

Continue reading the full GT Alert.

Photo of Margaret J. Weil Margaret J. Weil

Margaret J. Weil focuses her practice on tax planning and advice for private equity transactions, mergers and acquisitions, financings, and other commercial transactions. She advises domestic and international corporations, partnerships, and high-net-worth individuals on a broad range of tax matters, including domestic and…

Margaret J. Weil focuses her practice on tax planning and advice for private equity transactions, mergers and acquisitions, financings, and other commercial transactions. She advises domestic and international corporations, partnerships, and high-net-worth individuals on a broad range of tax matters, including domestic and cross-border M&A, securities offerings, restructurings, tax compliance, and the federal, state, and international tax developments that affect their transactions and ongoing business operations.

Read more about Margaret J. Weil
Show more Show less
Benjamin Almy ‡

Ben Almy utilizes deep in-house tax experience to advise his clients. In his managerial role at AES Clean Energy, he led tax analysis on utility-scale and distributed generation renewable project acquisitions – particularly relating to solar, wind, stand-alone storage, and green hydrogen projects.

Ben Almy utilizes deep in-house tax experience to advise his clients. In his managerial role at AES Clean Energy, he led tax analysis on utility-scale and distributed generation renewable project acquisitions – particularly relating to solar, wind, stand-alone storage, and green hydrogen projects. His experience includes drafting and reviewing commercial contracts for project acquisitions, equipment procurement, construction, and partnership formation, with a focus on tax provisions. He advises on federal and state tax incentives, state and local tax compliance, and tax-efficient structuring.

‡ Admitted to practice in Montana. Not admitted in the District of Columbia. Practice in D.C. supervised by shareholders admitted to practice in D.C. Practice limited to Federal Courts and Agencies.

Read more about Benjamin Almy ‡Benjamin's Linkedin Profile
Show more Show less