Internal Revenue Bulletin: 2009-25
June 22, 2009
This notice provides that, if the Treasury Department (or an entity acting on its behalf) acquires preferred stock, common stock, warrants to purchase common stock or other types of equity of a financial institution or other entity pursuant to the Emergency Economic Stabilization Act of 2008 (EESA), then such acquisition is not a change in control event with respect to which a payment can be made under a nonqualified deferred compensation plan pursuant to section 409A(2)(2)(A)(v) of the Code.
Election of investment tax credit in lieu of production tax credit; coordination with Department of Treasury grants for specified energy property in lieu of tax credits. This notice provides a description of the procedures that taxpayers will be required to follow to make an irrevocable election to take the investment tax credit for energy property under section 48 of the Code in lieu of the production tax credit under section 45.
Nonbusiness energy property credit. This notice provides procedures that manufacturers may follow to certify property as qualified nonbusiness energy property under § 25C of the Code, as well as guidance regarding the conditions under which taxpayers seeking to claim the § 25C credit may rely on a manufacturer’s certification. This notice also includes transition rules to provide taxpayers with guidance concerning the interaction of the effective date and timing provisions of the Energy Policy Act, the Energy Improvement and Extension Act, and the American Recovery and Reinvestment Tax Act. Notice 2006-26 superseded.
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