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IRS and Treasury Publish Final Regulations for Section 48 Investment Tax Credits

December 19, 2024

On December 18, 2024, Cravath prepared a memo for its clients entitled “IRS and Treasury Publish Final Regulations for Section 48 Investment Tax Credits.” The memo examines the U.S. Department of the Treasury and the Internal Revenue Service’s recently published final regulations regarding the energy credit available under Section 48 of the Internal Revenue Code.

Proposed regulations regarding the credit had been published in a November 2023 notice of proposed rulemaking. The final regulations clarify and modify rules for determining whether investments in certain energy property are eligible for the energy credit, including in relation to qualified biogas property, energy storage technology, hydrogen energy storage property and thermal energy storage property.

Please click here to read the memo.

Related Practices & Industries

  • Tax
  • Energy and Infrastructure

Authors

Name
Lauren Angelilli
Title
Tax
Title
Partner
Email
langelilli@cravath.com
Phone
+1-212-474-1016
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    Education

    • J.D., 2000, Harvard Law School
      cum laude
    • B.S., 1996, The Wharton School of the University of Pennsylvania
      magna cum laude

    Admitted In

    • New York
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    Name
    Christopher K. Fargo
    Title
    Tax
    Title
    Partner
    Email
    cfargo@cravath.com
    Phone
    +1-212-474-1236
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      Education

      • J.D., 2006, Columbia Law School
        Harlan Fiske Stone; Michael Lynne Scholar
      • B.A., 2003, Boston College
        Honors Program, cum laude

      Admitted In

      • New York
      Photo
      Name
      Andrew C. Compton
      Title
      Corporate
      Title
      Partner
      Email
      acompton@cravath.com
      Phone
      +1-212-474-1222
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        Education

        • J.D., 2007, Cornell Law School
        • B.S., 2003, University of Southern California
          magna cum laude

        Admitted In

        • New York
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        Name
        Will Kim
        Title
        Corporate
        Title
        Of Counsel
        Email
        wkim@cravath.com
        Phone
        +1-212-474-1362
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          Education

          • LL.B., 2011, University of Melbourne
            Graduated with Honors.
          • B.A., 2011, University of Melbourne

          Admitted In

          • New York

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