Alerts7.2.21
IRS Further Extends Continuity Safe Harbor for Renewable Energy Projects
Highlights
For renewable energy facilities that began construction in 2016 through 2019, IRS Notice 2021-41 provides for a 6-year Continuity Safe Harbor
For renewable energy facilities that began construction in 2020, IRS Notice 2021-41 provides for a 5-year Continuity Safe Harbor
IRS Notice 2021-41 also provides more flexibility in satisfying the continuity requirement if a taxpayer is unable to satisfy the Continuity Safe Harbor
To address continuing delays caused by the COVID-19 pandemic, the IRS issued Notice 2021-41 on June 29 extending the “continuity requirement” for satisfying the beginning of construction requirement for renewable energy facilities that qualify for either production tax credits (PTCs) or investment tax credits (ITCs).
Keep Up to Date in a Changing World
Do you want to receive more valuable insights directly in your inbox? Visit our subscription center and let us know what you’re interested in learning more about.
