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CONTRIBUTING SINCE OCTOBER 2007 Founded in 1931, Weil has provided legal services to the largest public companies, private equity firms and financial institutions for more than 90 years. Widely recognized by those covering the legal profession, Weil’s lawyers regularly advise clients globally on their most complex Litigation, Corporate, Restructuring, and Tax, Executive Compensation & Benefits matters.
On April 13, 2024, the Internal Revenue Service (IRS) and U.S. Department of the Treasury (Treasury) released Notice 2024-37, which provides additional guidance and safe harbors with respect to the federal income tax credit (the SAF Credit) for sustainable aviation fuel (SAF) under Sections 40B and 6426(k).1 The SAF Credit was introduced by the Inflation Reduction Act of 2022 (the IRA).
On March 22, 2024, the Treasury Department and Internal Revenue Service (IRS) released Notice 2024-30 (the 2024 Notice). The 2024 Notice, which modifies Notice 2023-29 (the 2023 Notice),1 generally increases the likelihood that offshore wind projects will be eligible for the energy communities adder (the EC Adder) and grows the number of US counties that are eligible for status as an energy community (an Energy Community).
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