News & Analysis as of

Investment Tax Credits Begun Construction Test Energy Projects

Pierce Atwood LLP

IRS Extends Production Tax Credit/Investment Tax Credit Safe Harbors

Pierce Atwood LLP on

On May 27, 2020, the IRS issued Notice 2020-41, which responds to industry-wide supply chain disruptions due to the COVID-19 pandemic by giving renewable energy developers additional time to complete their projects. Most...more

Mayer Brown

IRS Provides Start-of-Construction Relief for Renewables in Light of COVID-19

Mayer Brown on

On May 27, 2020, the US Internal Revenue Service (the “IRS”) released Notice 2020-41 (the “Notice”), updating the IRS guidance on the start-of-construction rules for the production tax credit (“PTC”) and energy investment tax...more

Mintz - Energy & Sustainability Viewpoints

Treasury Extends Four-Year Continuity Safe Harbor to Five Years, Provides Safe Harbor for 3.5 Month Rule

Treasury has made good on its widely anticipated commitment to provide relief for investment tax credit (“ITC”) and production tax credit (“PTC”) projects adversely affected by COVID-19 by issuing Notice 2020-41, which (1)...more

Foley & Lardner LLP

IRS Issues New Guidance on Beginning Construction Requirement For ITC

Foley & Lardner LLP on

The IRS recently issued Notice 2018-59 (the “Notice”) which provides clarification to “beginning of construction” for taxpayers seeking to take advantage of the section 48 renewable electricity investment tax credit (ITC) for...more

Eversheds Sutherland (US) LLP

The long-awaited “solar beginning of construction notice” - Notice 2018-59 provides guidance for solar and other section 48...

On June 22, 2018, the Internal Revenue Service (IRS) issued much-anticipated guidance to help developers of, and other industry participants in, solar, qualified fuel cell, qualified microturbine, combined heat and power,...more

Wilson Sonsini Goodrich & Rosati

IRS Issues Notice 2018-59: "Begun Construction" Guidance for the Investment Tax Credit

On June 22, 2018, the IRS issued Notice 2018-59 (ITC Guidance), providing long-awaited guidance on the "begun construction" requirements for facilities qualifying for the Section 48 investment tax credit (ITC). The ITC is a...more

Orrick, Herrington & Sutcliffe LLP

IRS Issues Further Guidance on “Start of Construction” Requirement for Renewable Energy Tax Credits, Including Continuity...

On May 5, 2016, the IRS released Notice 2016-31, which provides additional guidance on the “start of construction” requirements for the production tax credit (PTC) and investment tax credit (ITC) in lieu of the PTC. Notice...more

Latham & Watkins LLP

IRS Issues Additional Guidance on “Begun Construction” Requirement for Wind Energy Credits

Latham & Watkins LLP on

Latest guidance extends “continuity safe harbor” to four years and includes other taxpayer-friendly modifications and clarifications to existing guidance. On May 5, 2016, the Internal Revenue Service (IRS) issued...more

Foley & Lardner LLP

IRS Issues New Notice Extending Beginning of Construction Safe Harbor

Foley & Lardner LLP on

On May 5, 2016, the IRS issued Notice 2016-31 (the “Notice”) which revises previous guidance on satisfying the “beginning of construction” test in order to take advantage of the section 45 renewable electricity production tax...more

Stinson LLP

IRS Clarifies and Expands "Beginning Construction" Tests for Production Tax Credit and Investment Tax Credit

Stinson LLP on

In 2013, the Internal Revenue Service established two “beginning construction” tests – a physical work test and a 5% safe harbor test – to determine eligibility for the production tax credit (PTC) and investment tax credit...more

Ballard Spahr LLP

IRS Construction Deadline Guidance Highlights Disparate Treatment of Renewable Energy Technologies

Ballard Spahr LLP on

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

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