Tag: Notice 2013-29

IRS Issues Clarification Regarding “Binding Written Contract” in its “Start of Construction” Guidance for PTC or ITC Energy Credits

By Greg Jenner on April 26, 2013 Posted in Tax, Wind

As we originally noted, the IRS guidance issued April 15 regarding the "start of construction" requirement for energy projects to qualify for PTC or ITC contained a "big surprise" regarding its definition of a binding contract. Unlike previous incentive programs, the guidance provided that contracts that limit damages to a specified amount, such as by … Continue Reading