New IRA Domestic Content Guidance: First Updated Elective Safe Harbor and Revised Guidance
Treasury and the IRS released Notice-2025-08 modifying Notice 2024-41 and Notice 2023-38 . Notice 2025-08 provides material updates and clarifications to the New Elective Safe Harbor (introduced in Notice 2024-41, and covered by our prior Client Alert found here.)
New IRA Domestic Content Guidance: New Safe Harbor and Revised Guidance
Yesterday, Treasury and the IRS released Notice 2024-41 modifying Notice 2023-38 which provides for material updates in how taxpayers could qualify for Domestic Content Bonus Credit amounts.
Corporate Transparency Act
The Corporate Transparency Act, which went into effect on January 1, 2024, is intended to counter money laundering, the financing of terrorism, and other illicit activity by requiring the reporting of the beneficial ownership of entities operating in the United States.