Energy Tax Update: New Material Assistance/FEOC Guidance Released

On Thursday, February 19 Orrick’s Energy Tax Team hosted a webinar discussing IRS Notice 2026-15. The Notice, which was released on February 12, provides interim guidance on the application of restrictions related to prohibited foreign entities (PFEs) for energy credits under Sections 45X, 45Y and 48E. It also outlines interim safe harbors, definitions and compliance requirements for taxpayers seeking to claim clean energy credits, while ensuring compliance with new PFE restrictions.... By: Orrick, Herrington & Sutcliffe LLP