Insights & Resources

The IRS has issued Notice 2023-38 providing guidance on the domestic content requirements. Learn more about the specific requirements for a taxpayer.

Weaver is closely following the IRS and Treasury Department’s activities to issue further guidance on IRA clean energy credits and incentives.

A provision in the Inflation Reduction Act of 2022 permits the transfer of renewable energy tax credits to an unrelated party in exchange for cash.

In an effort to increase financial transparency, the FASB tentatively approved crypto assets to be separately disclosed from other intangible assets.

A number of states have updated their motor fuel tax rates and related fees effective in the first quarter of 2023.

Recent cryptocurrency exchange failures were not caused by technological issues, but by a lack of structure in corporate governance and internal controls.

U.S. banking regulatory agencies (including the Federal Reserve, FDIC & OCC) released their first-ever joint statement on crypto-asset risks to banking organizations.

The IRS has issued guidance on new sustainable aviation fuel tax credits that take effect on January 1, 2023. The guidance, Notice 2023-06, includes the following:

Companies must now account for cryptocurrency assets using fair value, according to a decision made by the Financial Accounting Standards Board (FASB).

The IRS has issued guidance to taxpayers regarding claiming the alternative fuel tax credits for the first three quarters of 2022.

The Inflation Reduction Act of 2022, includes a number of the renewable energy tax provisions originally contained in the Build Back Better Act.

The demand for guidance on how firms should manage digital assets for accounting purposes continues to grow in tandem with the use and acceptance of crypto assets.