On April 15, 2013, the Internal Revenue Service issued anticipated guidance defining the new “beginning construction” milestone for Production Tax Credit and Investment Tax Credit eligible energy facilities.
The American Taxpayer Relief Act, enacted January 2, 2013 changed the former PTC sunset date for wind projects from January 1, 2013 to January 1, 2014. It also changed the familiar “placed-in-service” milestone to a new “beginning of construction” milestone,… More