IRS urged to clarify modified terms in PTC, ITC extensions

01/3/2013 | North American Windpower online

The Internal Service Revenue needs to clarify the modified terms of the wind-energy Production Tax Credit and the Investment Tax Credit that amend the "in-service" date to a "begin construction" date for projects to qualify for the incentives, according to Keith Martin, a partner at Chadbourne & Parke. "Among the issues the IRS will have to decide is whether to give developers the option to treat an entire wind farm as a single facility for this purpose so that the start of construction of one turbine will be considered the start of work on the entire project," Martin said.

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