TREASURY, IRS PROVIDE SAFE HARBOR FOR TAXPAYERS THAT DEVELOP RENEWABLE ENERGY PROJECTS

摘要

The Treasury Department and the Internal Revenue Service (IRS) providing tax relief for taxpayers that develop renewable energy projects that produce electricity from sources such as wind, biomass, geothermal, landfill gas, trash, and hydropower, and use technologies such as solar panels, fuel cells, microturbines, and combined heat and power systems. Because the coronavirus (COVTD-19) pandemic has caused industry-wide delays in the supply chain for components needed to complete renewable energy projects otherwise eligible for important tax credits, the IRS has issued Notice 2020-41 to provide tax relief to affected taxpayers.