IRS Extends Start-of-Construction Relief for Renewables in Light of Continuing Effects of COVID-19

Mayer Brown - Tax Equity Times
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On June 29, 2021, the US Internal Revenue Service (the “IRS”) released Notice 2021-41 (the “Notice”), extending and enhancing previous relief given by the IRS pursuant to Notice 2020-41 (the “Previous Notice”) on the start-of-construction rules for the production tax credit (“PTC”) and energy investment tax credit (“ITC”). The Notice extends the continuity safe harbor for projects that began construction in calendar years 2016 through 2020 and relaxes the continuity requirement for projects that do not satisfy the continuity safe harbor.

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