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IRS Renewables Safe Harbor Extension Due to Covid, Official Says

Sept. 24, 2021, 9:31 PM

The IRS extended a safe harbor for taxpayers building renewable energy projects in order to give developers a break amid the delays and disruptions caused by the Covid-19 pandemic, an IRS attorney said Friday.

The June move (Notice 2021-41) extended the period in which a renewable energy project must begin service in order to qualify for production and investment tax credits.

  • “It’s just creating extra flexibility for everyone,” said Jennifer Bernardini, an attorney for the IRS’s Passthroughs and Special Industries unit, speaking at a virtual conference of the American Bar Association’s tax section.
  • As a result of ...

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