Philip Tingle
Subscribe to Philip Tingle's PostsPhilip (Phil) Tingle represents energy companies such as utilities, independent power producers and financial institutions on a wide range of energy tax-related matters. He is the global head of the Firm's Energy Advisory Practice Group. Phil provides advice regarding all aspects of renewable-energy projects, including tax equity structures, refinancings, acquisitions and dispositions, restructurings and workouts. He has extensive experience with the production tax credit and with the application of renewable credits to new technologies. Moreover, he works with the investment tax credit for numerous kinds of solar projects. Read Philip Tingle's full bio.
IRS Issues Guidance on Tax Treatment of Energy Savings Performance Contracts
By McDermott Will & Emery, Bradford E. LaBonte, Heather Cooper and Philip Tingle on Feb 2, 2017
Posted In Uncategorized
On January 19, 2017, the Internal Revenue Service (IRS) issued Rev. Proc. 2017-19, 2016-6 I.R.B. (the Rev. Proc.), providing a safe harbor under which it will not challenge the tax treatment of an Energy Savings Performance Contract Energy Savings Agreement (ESPC ESA) as a service contract under Section 7701(e)(3). While the application of the guidance...
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Government Appeal of Alta Wind Supports Decision to File Suit Now
By Joshua D. Rogaczewski, Kevin Spencer and Philip Tingle on Jan 31, 2017
Posted In Renewables, Tax
As you may know, several taxpayers have sued the federal government because they believe they were underpaid under the Section 1603 grant program. Indeed, the taxpayer in the Alta Wind case was successful in convincing the court that the government had inappropriately reduced the amount of its 1603 grant by approximately $200 million. For more information...
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IRS Issues Additional Guidance on Beginning of Construction Rules for Renewable Projects
By McDermott Will & Emery, Bradford E. LaBonte, Heather Cooper and Philip Tingle on Dec 21, 2016
Posted In Environmental, Power Markets, Renewables, Tax
On December 15, 2016, the Internal Revenue Service released Notice 2017-04, which provides welcome guidance on how to meet the “beginning of construction” requirements for wind and other qualified facilities. There has been much uncertainty about when construction of these types of facilities begins for renewable energy tax credit purposes. The Notice (1) extends the...
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Court Awards $206 Million to Alta Wind Projects in Section 1603 Grant Litigation
By McDermott Will & Emery, Heather Cooper, Kevin Spencer and Philip Tingle on Nov 4, 2016
Posted In Environmental, Project Development and Finance, Renewables, Tax
The US Court of Federal Claims awarded damages of more than $206 million to the Plaintiffs in a case with respect to the cash grant program under Section 1603 of the American Recovery and Reinvestment Act of 2009 (the Section 1603 Grant). In its opinion, which was unsealed on Monday, October 31, the Court held...
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Final Regulations Define ‘Real Property’ for REITs: Considerations for Renewable Energy and Transmission Assets
By McDermott Will & Emery, Bradford E. LaBonte, Heather Cooper and Philip Tingle on Sep 29, 2016
Posted In Renewables, Tax, Uncategorized
On August 31, 2016, the Internal Revenue Service (IRS) and US Department of the Treasury issued final regulations (Final Regulations) under section 856 of the Internal Revenue Code to clarify the definition of “real property” for purposes of sections 856 through 859 relating to real estate investment trusts (REITs). The Final Regulations largely follow proposed...
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Energy Tax Extenders in FAA Bill Unlikely
By McDermott Will & Emery, Heather Cooper, Kevin Spencer and Philip Tingle on Jun 30, 2016
Posted In Environmental, Project Development and Finance, Renewables, Tax, U.S. Congress
As discussed in our post on April 7, US Congress extended the Production Tax Credit (PTC) under Internal Revenue Code (IRC) Section 45 and the Investment Tax Credit (ITC) under IRC Section 48 in December 2015, but failed to include extensions for certain types of renewable energy property, including fuel cell power plants, stationary microturbine power...
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IRS Revises Recent Begin Construction Guidance
By McDermott Will & Emery, Heather Cooper, Kevin Spencer and Philip Tingle on May 20, 2016
Posted In Renewables, Tax
On May 18, 2016, the Internal Revenue Service (IRS) revised Notice 2016-31 (Notice), its recent guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic facilities). For a discussion of the Notice, click here. The revisions clarify that the Continuity...
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IRS Issues Guidance on the Beginning of Construction Rules for Renewable Projects
By McDermott Will & Emery, Heather Cooper, Kevin Spencer and Philip Tingle on May 11, 2016
Posted In Renewables, Tax
The Internal Revenue Service recently issued Notice 2016-31, which provides much-needed guidance for wind and other qualified facilities on meeting the beginning of construction requirements in light of the 2015 statutory extension and modification of the production tax credit and the investment tax credit. The Notice also revises and adds to the list of excusable disruptions...
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Short-Term Reauthorization of FAA Programs Potentially Paves the Way For Omitted Energy Credit Extenders
By McDermott Will & Emery, Heather Cooper, Kevin Spencer and Philip Tingle on Apr 7, 2016
Posted In Project Development and Finance, Renewables, Tax, U.S. Congress
As discussed in our post on March 16, the Congressional extension of the Production Tax Credit (PTC) under Internal Revenue Code (IRC) Section 45 and the Investment Tax Credit (ITC) under IRC Section 48 in December 2015 failed to include extensions for certain types of renewable energy property, including fuel cell power plants, stationary microturbine...
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President Obama Signs Consolidated Appropriations Act
By McDermott Will & Emery, Heather Cooper, Kevin Spencer and Philip Tingle on Mar 16, 2016
Posted In Project Development and Finance, Renewables, Tax, U.S. Congress
Renewable Energy Industry Seeks Additional Energy Credit Clarifications On December 18, 2015, President Barack Obama signed into law the Consolidated Appropriations Act, 2016 (H.R. 2029) (the Act). The Act includes multi-year extensions of the Production Tax Credit (the PTC) under Internal Revenue Code (IRC) Section 45 and the Investment Tax Credit (the ITC) under IRC...
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