Construction Law, Tax Law

IRS Construction Deadline Guidance Highlights Disparate Treatment of Renewable Energy Technologies

by Charles Henck, Darin Lowder | Ballard Spahr LLP on 5/1/2013

The IRS recently released guidance in the form of an IRS Notice implementing a rule change under the American Taxpayer Relief Act of 2012 concerning the construction deadline that renewable energy facilities must meet to...more

IRS Releases Guidance on Beginning Construction for Production Tax Credit and Investment Tax Credit

by Alan J. Tarr | Loeb & Loeb LLP on 4/30/2013

A qualified facility is eligible to receive a renewable electricity production tax credit (PTC) or energy investment tax credit in lieu of the PTC if construction of the facility begins before January 1, 2014. Qualified...more

Legal Alert: IRS Clarifies "Binding Written Contract" Definition in Renewable Energy Tax Credit Begun Construction Guidance

by David Cho, Dorothy Black Franzoni, Jonathan Goldman, Amish Shah, Ram Sunkara, Thomas Warren | Sutherland Asbill & Brennan LLP on 4/29/2013

On April 25, 2013, the Internal Revenue Service updated guidance issued on April 15, 2013, that explained how to satisfy the new “begun construction” requirement for the renewable energy section 45 production tax credit (PTC)...more

IRS Issues “Begin Construction” Guidance for Renewable Energy Tax Credits

by Jordan Collins, Bryan M. Stockton, Sahir Surmeli | Mintz Levin - Energy & Clean Technology on 4/23/2013

On April 15, 2013, the Internal Revenue Service (IRS) issued long-awaited guidance updating eligibility requirements for renewable project developers seeking to utilize the 2.3 cent/kWh Renewable Electricity Production Tax...more

IRS Issues Notice to Determine When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

by Gale Chan, Madeline Chiampou, Brian Levy, Martha Groves Pugh, Philip Tingle | McDermott Will & Emery on 4/23/2013

The Internal Revenue Service (IRS) has issued important guidance to determine when construction begins with respect to a qualified facility for purposes of the production tax credit and the investment tax credit for certain...more

IRS Releases “Start Construction” Guidance for Renewable Energy Facilities

by Douglas Davidson, Paul Gordon, Kenneth Kulak, Gabriel Quihuis, Richard Shortz, Wayne Song | Morgan Lewis on 4/19/2013

Long-awaited guidance regarding eligibility for production or investment tax credits largely tracks guidance under the Section 1603 cash grant program....more

IRS Guidance on “Beginning of Construction” for ATRA 2012 Tax Credit Extensions

by Pamela Charles | Davis Wright Tremaine LLP on 4/19/2013

The IRS has issued guidance (Notice 2013-29) on satisfying the new “beginning of construction” requirement for the renewable energy production tax credit under Code Section 45 (PTC) and energy investment tax credit under Code...more

IRS Issues Notice on "Beginning of Construction" Requirement for PTC and ITC Purposes

by Wilson Sonsini Goodrich & Rosati on 4/19/2013

On April 15, 2013, the IRS released Notice 2013-29, which addresses the requirement that construction of a qualified facility must begin before January 1, 2014, in order to be eligible for the renewable electricity production...more

IRS Releases New Guidance on Beginning of Construction

by Ellen Bastier, J. Ferd Convery , III, Arnold Grant | Reed Smith on 4/18/2013

Prior to the enactment of the American Taxpayer Relief Act of 2012 (the "Act"), the production tax credit (the "PTC") had been scheduled to expire for wind projects that were not placed in service before January 1, 2013, and...more

Energy Alert: IRS Identifies Two "Begun Construction" Standards To Qualify For Two Tax Credit Opportunities

by Allison Woodbury Leppert | Leonard, Street and Deinard on 4/18/2013

The renewable electricity production tax credit and the energy investment tax credit currently offer taxpayers a tax credit for energy produced from qualified facilities. For the PTC, the tax credit covers a ten-year period....more

Have You "Begun Construction"? IRS Issues Guidance for Renewable Energy Tax Credits

by David Cho, Dorothy Black Franzoni, Jonathan Goldman, Amish Shah, Ram Sunkara, William Warren | Sutherland Asbill & Brennan LLP on 4/17/2013

On April 15, 2013, the Internal Revenue Service ( IRS) issued much - anticipated guidance that will help developers of wind, solar, biomass and certain other renewable energy facilities qualify for federal renewable energy...more

Developers Rejoice! IRS Issues “Begun Construction” Guidance

by John A. Eliason | Foley & Lardner LLP on 4/17/2013

On April 15, 2013, the IRS released Notice 2013-29 addressing the eligibility for certain alternative energy projects to qualify for the renewable electricity production tax credit (PTC) under section 45 of the Tax Code. This...more

Government Contractor Exemption Bill Passes House

by Bruce Ely, David Pugh | Bradley Arant Boult Cummings LLP on 4/17/2013

On April 9, the House of Representatives passed HB 419 on a vote of 89-6. The bill, sponsored by Representative Paul DeMarco (R-Homewood) among others and championed by the Alabama Chapter of the Associated Builders &...more

"IRS Guidance on the Commencement of Construction Requirements for Tax Credits for Qualified Energy Facilities"

by Armando Gomez, Paul Schockett, Sean Shimamoto | Skadden, Arps, Slate, Meagher & Flom LLP on 4/17/2013

On April 15, 2013, the Internal Revenue Service released Notice 2013-29 (Notice), which established guidelines and a safe harbor to determine when construction has begun on a “qualified facility” for purposes of the renewable...more

Proposed 2014 Budget Encourages Private Investment in Infrastructure

by Frederic Ballard, Jr., Scott Cockerham, Charles Henck | Ballard Spahr LLP on 4/15/2013

This week, the Obama administration released its proposed budget for the 2014 fiscal year. Notably, the budget encourages private investment in infrastructure projects through various liberalizations of the tax laws relating...more

New Tax Court Decision Highlights Need for Construction Contractors to Consider Expanded IRS Voluntary Worker Classification...

by Jim Archibald, Bruce Ely, Stuart Frentz, William Thistle | Bradley Arant Boult Cummings LLP on 3/15/2013

For years, the question of whether construction workers should be treated as employees or independent contractors has been an important issue that many contractors have overlooked or chosen to ignore. However, a recent U.S....more

Bipartisan Group of Senators Wants Clarification of "Commencement of Construction" Under the Wind PTC

by Kimberly Barnashuk | Phillips Lytle - Renewable Energy on 3/15/2013

Last week, a group of U.S. Senators submitted a letter requesting swift clarification by the Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) of language regarding the wind production tax...more

IRS Releases Audit Memorandum on Another HTC Transaction

by David Cohen, Mark Limardo | Katten Muchin Rosenman LLP on 3/14/2013

The Internal Revenue Service recently released Field Attorney Advice 20124002F, revealing another attempt on audit to invalidate an allocation of historic tax credits (HTCs) to an HTC equity investor. Although only just made...more

Oregon “New Markets Tax Credit” Program: Businesses in Low-Income Areas Should Act Quickly to Take Advantage of Current Financing...

by Lane Powell PC - Taxation Law on 3/8/2013

The Oregon Low Income Community Jobs Initiative, commonly known as the Oregon New Markets Tax Credit (“NMTC”) program, is a financing tool that can provide an additional $500,000 or more of net benefits to qualifying business...more

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Construction Law › Tax Law