IRS Seeks Comments on Notice Related to Electing ITC in Lieu of PTC
In tomorrow’s Federal Register, the Internal Revenue Service (IRS) will invite comments on Notice 2009-52, which describes the procedures required to elect the renewable energy investment tax credit (ITC) in lieu of the production tax credit (PTC). The election was created by the American Recovery and Reinvestment Act. No changes to the notice are being proposed. Comments are due March 7.