Sign Up For Novogradac Industry Alert Emails

GUIDANCE PUBLISHED ON RETC PROVISION OF RECOVERY ACT

Friday, June 5, 2009 - 1:45AM

The Internal Revenue Service (IRS) today in Notice 2009-52 provides a description of the procedures that taxpayers will be required to follow to make an irrevocable election to take the investment tax credit for energy property under Internal Revenue Code section 48 in lieu of the production tax credit under IRC section 45. The election described in Notice 2009-52 was created by the American Recovery and Reinvestment Tax Act of 2009.

Learn more about Novogradac's expertise and many services