IRS Issues Additional Guidance on Beginning of Construction Rules for Renewable Projects

Gale Chan, Madeline Chiampou Tully, Heather Cooper, Martha Groves Pugh, and Philip Tingle wrote this bylined article on new IRS guidance to begin renewable energy projects under the Internal Revenue Code Section 45 extension passed by Congress late in 2014. The authors called the guidance “much-needed clarity for taxpayers that began construction of a facility prior to January 1, 2015, pursuant to last year’s statutory extension of the … production tax credit under Code Section 45 (PTC) or the investment tax credit under Code Section 48 (ITC).”