Renewable Energy Projects: Maximizing Production and Investment Tax Credits After Newly Released IRS Guidance

Navigating the Construction, Master Contracts and Transfers of Facilities Requirements

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, October 30, 2013

Recorded event now available

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Program Materials

This CLE webinar will examine the new IRS guidance on the production tax credit (PTC) and the investment tax credit (ITC) for renewable energy projects. The panel will discuss the construction, master contracts and transfers requirements, and offer best practices for taking advantage of the PTC and ITC.

Description

On Sept. 20, 2013, the IRS released Notice 2013-60, clarifying prior guidance regarding the "begin construction" eligibility requirements for the PTC and the ITC for renewable energy projects. For certain types of projects to qualify for the PTC and ITC, construction of the project must begin before Jan. 1, 2014, and must continue until the project is completed.

The new guidance addresses the continuous construction and continuous efforts tests, the master contract rule, and transfers of facilities after construction has begun but before they are placed in service. The new guidance addressed a number of questions but left some unanswered.

With deadlines looming to take advantage of the tax credits, it is critical for developers, investors and their advisors to understand the IRS guidance and steps necessary to meet the requirements.

Listen as our authoritative panel examines the new IRS guidance and how it might impact developers and investors in light of earlier guidance. The panel will discuss the requirements for beginning construction, continuous construction and continuous efforts, master contracts and transfers of facilities, and offer best practices for taking advantage of the PTC and ITC and for strategic tax planning for renewable energy projects.

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Outline

  1. New IRS guidance
  2. Requirements for tax credits
    1. Beginning construction
      1. Physical work
      2. 5% safe harbor
    2. Continuous construction and continuous efforts
    3. Master contracts
    4. Transfers of facilities
  3. Best practices and strategic tax planning

Benefits

The panel will review these and other key questions:

  • What clarifications did the recent IRS guidance offer on the expanded safe harbor for renewable energy projects?
  • What steps should counsel advise companies to meet the begin construction requirements?
  • What best practices should counsel employ to take advantage of the PTC and ITC for clients?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Gregory F. Jenner
Gregory F. Jenner

Partner
Stoel Rives

Mr. Jenner has broad experience in virtually all federal tax matters, with particular focus on planning and...  |  Read More

Kevin T. Pearson
Kevin T. Pearson

Partner
Stoel Rives

Mr. Pearson focuses principally on federal income tax law, including both transactional matters and tax controversy...  |  Read More

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