IRS releases guidance on beginning of construction standards for PTC

April 2013


The American Taxpayer Relief Act of 2012 amended the Section 45 renewable electricity production tax credit (PTC) and the election to claim the energy investment tax credit (ITC) in lieu of the PTC to apply to facilities on which construction begins before January 1, 2014. Since this change, there has been uncertainty regarding the rules that the IRS would apply to determine when construction has begun. In Notice 2013-29, the IRS has now provided applicable guidance implementing both a physical work standard and providing an economic safe harbor in meeting the new ATRA deadline for the PTC and ITC.

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