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Tuesday, April 16, 2013 - 7:00AM

The Internal Revenue Service (IRS) in Notice 2013-29 yesterday provided guidelines and a safe harbor to determine when construction has begun on a qualified facility for purposes of the renewable electricity production tax credit (PTC), or the energy investment tax credit (ITC). In Notice 2013-29, the IRS provides two methods that a taxpayer may use to establish that construction of a qualified facility has begun: starting physical work of a significant nature before Jan. 1, 2014, and/or meeting a safe harbor before Jan. 1, 2014. Detailed requirements for both methods are described in the notice.

To discuss this important guidance, join Novogradac & Company at the Novogradac Financing Renewable Energy Conference in San Francisco, April 24-25.

Questions about Notice 2013-29 can be directed to Stephen Tracy, CPA, at 415-356-8000 or Tony Grappone, CPA, at 617-330-1920.

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