Treasury and the IRS are providing relief for taxpayers developing renewable energy projects and producing electricity from sources such as wind, biomass, geothermal, landfill gas, trash and hydropower.
Notice 2020-41 recognizes that the COVID-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 notice extends the continuity safe harbor and provides an additional 3-1/2-month safe harbor to help taxpayers satisfy the beginning of construction requirements and limit the impact of coronavirus-related delays on the ability to claim tax credits. Learn more.