New rules provide wind developers with additional time to satisfy a critical safe harbor.

On December 15, 2016, the Internal Revenue Service (IRS) issued Notice 2017-4, which modifies the “continuity safe harbor” as set forth in prior Notice 2016-31 for taxpayers seeking to qualify wind energy facilities for federal tax credits before the credits are phased out under current law.1 Under the new rules, taxpayers will now have until at least December 31, 2018 to complete their project without being required to prove that construction was continuous. The full text of Notice 2017-4 is available here.