The IRS has provided a safe harbor for taxpayers that develop renewable energy projects. For some projects that began construction in 2016 or 2017, Notice 2020-41 adds an extra year to the 4-year “continuity safe harbor” provided in existing guidance. This is to reflect that COVID-19 has caused delays in the supply chain for components needed to complete energy projects. The Notice also provides other relief. It applies to projects that produce electricity from sources such as wind, biomass, geothermal, trash and hydropower, and technologies including solar panels, fuel cells, microturbines, and combined heat and power systems. Read the Notice: https://bit.ly/2XzgNxK Call or visit our website for more information! www.mjscpa.com/
