Federal officials recently outlined prevailing wage and apprenticeship requirements that projects need to adopt if they want to take advantage of the enhanced tax credits and deductions created by the Inflation Reduction Act...more
Projects that start construction within 60 days from the publication of the Notice are exempt from the requirements. Key Points: ..Taxpayers now have until January 29, 2023, to start construction on a project to avoid...more
On June 29th, the IRS released Notice 2021-41 (which may be found here), which retroactively extends the Continuity Safe Harbor to six years. This follows the release of Notice 2020-41 (discussed here) on May 27, 2020, which...more
The Internal Revenue Service (IRS) recently released Notice 2020-41 (the Notice), providing important relief with respect to the beginning-of-construction requirement for the production tax credit (PTC) and the investment tax...more
On May 7, 2020, in response to a letter from a consortium of U.S. Senators dated April 23, 2020 (the Senate Letter), the Treasury Department stated that it intends to modify rules related to the Continuity Safe Harbor (as...more
A Basic Guide to Renewable Energy Market and Energy Tax Basics - So What’s The Quick But Not Dirty? The IRS finally issued IRS Notice 2018-59 Beginning of Construction for the Investment Tax Credit under Section 48 on June...more
New Internal Revenue Service (IRS) guidance on what it takes to start construction of a solar project raises practical questions, but it is very helpful in keeping the industry humming along. Solar projects that are under...more
Solar developers are getting antsy about what is needed to show that they started construction on their 2020 (or later) projects by the end of 2019. The answer is not clear in the absence of solar-specific guidance from...more