United States

Tax Credits and Energy Advisory Services

Support for Federal Tax Credit and Energy Sector Issues

 

KPMG's Tax Credit and Energy Advisory Services (TCEAS) group can help clients navigate the complex rules and dynamic legislative and administrative environment as they structure transactions, fulfill compliance obligations, pursue opportunities, and manage risk.

 

TCEAS services include:

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Advising on the availability of tax credits

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Assisting in obtaining IRS rulings on technical issues

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Advising on recapture risk and related tax issues

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Issuing tax opinions

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Providing due diligence services in connection with tax credit investment services

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Modeling tax credit transactions to showcase the after-tax economic returns of credit deals

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Enhancing the information gathering process to support the annual credit claims process

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Advising on tax credit structures (including credit partnerships and leasing transactions)

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Identifying, quantifying, and documenting R&D credits for both current and prior tax years and uncovering new credit opportunities

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Preparing tax returns and schedules, performing compliance reviews, and providing IRS audit support

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Reviewing documents (operating agreements, tax opinions, loan documents, and projections) and advising on tax-related issues

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Assisting clients in understanding the legislative and regulatory environment and the potential impact of law changes

Learn more about our sector experience:

Natural Resources

Natural Resources

Renewable Energy

Renewable Energy

Related KPMG Tax Services

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Accounting Methods and Credit Services

Help simplify how your current accounting practices and operations affect your tax position in order to take advantage of tax-efficient accounting methods and credits.

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Credits & Incentives Services

KPMG's team of tax, accounting, engineering and technology professionals who specialize in helping companies potentially benefit from R&D tax incentives.

Which federal tax credits might you be eligible for?

The federal government offers a variety of tax credits to encourage investments in renewable energy, affordable housing, community development, and historic preservation across the United States.

Explore below to see the different credits that might be available to you.

The New Markets Tax Credit

The New Markets Tax Credit

Encourages investment in economically underserved areas across the United States.

The Historic Tax Credit

The Historic Tax Credit

Equal to 20% of qualified rehabilitation expenditures incurred by owners of historic buildings.

The Low-Income Housing Credit

The Low-Income Housing Credit

A federal tax credit considered an important source of funding for affordable U.S. housing.

Insights from KPMG

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The 2017 KPMG Green Tax Index

The 2017 Green Tax Index allows companies to explore green tax incentive opportunities and reduce their exposure to green tax penalties.

> Discover more

 

 

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The New Markets Tax Credit

The New Markets Tax Credit (NMTC) is a federal tax credit program designed to encourage investment in economically underserved areas across the United States. Since it's inception, the government has awarded 50.5 billion in tax credit authority. Recently, Congress passed legislation to extend the program and authorized 3.5 billion annually in NMTC allocation authority throughout 2019.

> Read more

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Webcast Replay: The R&D Tax Credit: A 2016 Year in Review and Outlook for 2017

In this Webcast replay, senior-level professionals from KPMG's Washington National Tax group and Research Tax Credit Services group provide an overview of the research tax credit, industry trends, and leading practices that companies should implement.

(Original airdate: March 3 2017)

>  Launch the replay here

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The R&D Tax Credit in Action

Discover how companies across the U.S. are working with the R&D tax credit, based on polling responses taken during our March 3, 2017 R&D Year in Review Webcast.

> Download the Infographic here

 

Follow KPMG's U.S. Tax Practice on Twitter

Latest News

Government Accounting Office Recommends Ways to Strengthen the Low-Income Housing Credit Program

Representatives from the Government Accounting Office (“GAO”) recently testified before the Senate Finance Committee on ways to improve the low-income housing tax credit (“LIHTC”), a federal tax credit for investors in low-income housing projects.

> Read more

Community Development Financial Institutions Fund Continues Robust New Markets Tax Credit Program

The new market tax credit (“NMTC”) program allows tax credits for investments designed to create economic growth in low-income urban and rural areas. This article highlights key findings in a recent report reviewing the program.

> Read more

Research Credit Made Permanent and New Potential Abilities to Use Credit to Offset AMT and Payroll Taxes

The section 41 tax credit for increasing research was recently made permanent! Along with the permanent reinstatement of the research credit, certain small businesses can get special tax benefits. This article introduces the permanent extension of the research credit and the ability to offset alternative minimum tax (“AMT”) and payroll taxes for eligible businesses.

> Read more

The Agricultural Chemical Security Credit: The Types of Taxpayers That Are Eligible for the Credit Is Much Broader Than Many Taxpayers Initially Realized

The IRS seems to view the agricultural chemical security credit of section 45O with a more inclusive eye than taxpayers originally perceived. This article describes eligibility for the credit and explains why taxpayers should be looking at whether they might fit within the statute after all.

> Read more

Effect of Section 1603 Grant on Earnings and Profits

The Section 1603 Grant program has awarded cash grants to eligible taxpayers that placed specified energy property in service. This article describes the grant program, focuses on how receiving a grant affects a corporation’s earnings and profits, and evaluates three alternative approaches for increasing earnings and profits on the receipt of a Section 1603 Grant.

> Read more

Offshore IDC: A Review of Past Issues and a Look at the Emerging Issues

Taxpayers in the oil and gas industry can deduct intangible drilling and development costs (“IDC”). This article examines how the IDC rules might apply to offshore operations.

> Read more

IRS Notice 2014-46: New "Begin Construction" Guidance for Renewable Energy Projects

If taxpayers took steps to “begin construction” on renewable energy facilities prior to January 1, 2014, the facilities may be eligible for the production tax credit or investment tax credit. This article reviews recent guidance on what it means to begin construction, including the effect of transferring property and the modification of a safe harbor.

> Read more

IRS Publishes Rehabilitation Tax Credit Partnership Safe Harbor

Taxpayers that rehabilitate certain buildings and historic structures may qualify for tax credits. While structuring these projects, developers and investors may create rehabilitation tax credit partnerships to capture and allocate the tax credits. This article provides a simplified background to rehabilitation tax credit partnerships and discusses recent developments in the area, including a revenue procedure that establishes a safe harbor for partnership allocations of rehabilitation tax credits.

> Read more

 

Contact Us

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Richard Blumenreich

Principal-in-Charge, Tax Credit and Energy Advisory Services Group, KPMG LLP

E: rblumenreich@kpmg.com