Federal

Expert Analysis

• 2 Tax Decisions Hold Key Transfer Pricing Takeaways

  

  Richard Slowinski and Stefanie Kavanagh at Alston & Bird discuss two recent decisions in cases against the IRS — Eaton Corp. from the Sixth Circuit and Medtronic from the Tax Court — that may help clarify when the agency can cancel an advance pricing agreement, but leave unanswered questions about which pricing method applies to high-value intercompany licensing transactions.

• Patagonia's Succession Plan Is A Blueprint For Biz Owners

  

  While not every business owner is interested in giving their company away to a charitable purpose like Patagonia's founder recently did, the outdoor apparel company's unique situation highlights the considerations that should go into any succession plan, says Abosede Odunsi at Freeborn & Peters.

• The CHIPS Act: Key Takeaways For Semiconductor Industry

  

  The Biden administration’s recently signed CHIPS Act signals that the U.S. is making progress toward bolstering the domestic semiconductor industry, and manufacturers must prepare by understanding the requirements of the act and associated Department of Commerce guidance, say attorneys at Miller & Chevalier.

• Digital Taxation Is Necessary, But Tough To Manage

  

  The U.S. government has started to tackle complex new tax laws as the digital economy continues to grow, but this demands guidelines that will facilitate the growth while protecting investors and the government's finances, say attorneys at Cadwalader.

• 5 Considerations When Seeking Federal EV Funding

  

  A recent White House fact sheet shows how federal efforts to support the full scope of the electric vehicle industry have moved the needle, but some details about how to use those funds are still being ironed out, and there are a few issues to watch, say attorneys at Morgan Lewis.

• Unpacking The Inflation Reduction Act's Energy Tax Credits

  

  Provisions in the recently enacted Inflation Reduction Act that affect how taxpayers can monetize clean energy tax credits will change how clean energy projects are financed, but taxpayers that may not be allowed multiple credits need to determine which type of credit will be the most advantageous, say attorneys at BakerHostetler.

• How COVID Has Changed Project Development And Finance

  

  Two and a half years into the pandemic, some COVID-19-specific provisions are now common in the project development and finance markets, while others are still undergoing negotiation, say Nate Galer and Katy McNeil at Mayer Brown.

• Unpacking The Shift In DOJ Corporate Enforcement Policy

  

  Attorneys at Paul Hastings provide takeaways for companies seeking to mitigate increased enforcement risks from the U.S. Department of Justice's recent corporate prosecution policy changes, including greater focus on individuals, requirements for cooperation credits, evaluations of prior misconduct, expectations for compliance programs and factors for determining whether to impose a monitor.

• What AML Bill Could Mean For Firms, Funds And FinCEN

  

  If passed, an amendment within Congress’ annual defense bill would expand the list of institutions subject to anti-money laundering regulations, from law firms to investment funds, creating potential rulemaking and enforcement challenges for the Financial Crimes Enforcement Network, say attorneys at Arnold & Porter.

• How Inflation Reduction Act Will Lift Offshore Wind Projects

  

  The Inflation Reduction Act should promote the development of offshore wind energy in multiple ways — including by improving the planning and permitting process for transmission infrastructure, expanding potential lease areas and making beneficial changes to the tax credits available for renewable energy developers, say attorneys at Day Pitney.

• CORRECTED: New Tax Credits For Renewables Should Offer Investors Relief

  

  The Inflation Reduction Act's changes to tax credits for renewable energy projects should finally liberate tax equity investors from the restraints of the complex and onerous federal anti-abuse regime, says Kay Hobart at Parker Poe. Correction: Because of an editing error, a previous version of this article incorrectly characterized tax enforcement regimes in North Carolina and other states. This error has been corrected.

• Inflation Reduction Act A Boon To Hydrogen, Carbon Capture

  

  The Inflation Reduction Act's tax credits and direct payments, extension of existing renewable electricity subsidies, and other benefits will accelerate hydrogen and carbon capture projects across the U.S. — and will likely draw capital into the country that would otherwise have gone to projects elsewhere, say attorneys at Shearman.

• What The Inflation Reduction Act Has To Do With Crypto

  

  The recently enacted Inflation Reduction Act’s $80 billion supplemental funding allotment for the IRS could have unexpectedly significant implications for the cryptocurrency market, which may find itself the target of ramped-up tax audits and enforcement, says cybersecurity consultant John Reed Stark.