Recently, in Alta Wind I Owner Lessor C et al. v. United States (“Alta Wind”),1 the US Court of Appeals for the Federal Circuit (“Federal Circuit”) vacated and remanded the decision of the US Federal Court of Claims (“Claims Court”), which had awarded the owners of six California wind farms approximately $206 million of Section 1603 grants.2 Certainly, the renewable energy industry would have preferred the lower court’s decision to have been upheld.

Nonetheless, for the various reasons discussed […]

The Internal Revenue Service has published Notice 2018-68 (the “Notice”), which provides long awaited, but limited guidance on the recent amendments to Section 162(m) of the Internal Revenue Code (“Section 162(m)”) by the Tax Cuts and Jobs Act of 2017 (the “TCJA”). Specifically, the Notice provides guidance regarding the identification of a “covered employee” and the grandfathering rules governing written and binding arrangements in effect on November 2, 2017. The Notice applies to any taxable year […]