You might have heard that the so-called “Energy Incentives” were recently reestablished. This change in legislation may qualify you for an additional tax deduction on certain 2018 projects.
The President signed the Further Consolidated Appropriations Act into law on 12/20/2019. This broad legislation includes theextension of the Section 179D and 45L programs. This extension is retroactive back to 1/1/2018, meaning that projects completed and placed-in-service in 2018 now may qualify. The legislation also extends the incentives forward, through 12/31/2020, meaning that projects completed and placed in service in 2019 and 2020 will be eligible as well. (To learn more about these incentives, please visit our recent blog post on this subject).
When we heard this news, we immediately began digging through our archives, looking for projects that might qualify for additional tax savings. Now that these incentives are back on the table, many clients are getting even more value out of their preexisting Capstan projects. We’d like you to be among them.
If you think you have a project that might be worth revisiting, please let us know. We’d be happy to explore this possibility with you and make certain that you are leveraging every possible tax savings opportunity.