Walker Reid Strategies

Integrate Section 179D into the Early Stages of Non-Profit Design

Integrate Section 179D into the Early Stages of Non-Profit Design    Like their commercial counterparts, non-profit building owners also pursue building and renovation projects. But when it comes to Section 179D deductions, they have more in common with governmental entities. As non-profits are non-tax paying entities, they cannot qualify for tax deductions. While their building […]

Section 179D Commercial Building Deduction Survives US Tax Court Challenge (Somewhat)

A recent United States Tax Court ruling highlights the importance of thoroughly understanding the requirements of §179D and working with an expert in qualifying and certifying energy-efficient commercial building properties.   Project on an Existing Building   Edwards Engineering, an Illinois-based company specializing in heating, ventilation, and air conditioning (HVAC) system design and installation and […]

Inflation Reduction Act -IRS Issues Announcement Affirming ASHRAE Standard 90.1

Inflation Reduction Act -IRS Issues Announcement Affirming ASHRAE Standard 90.1 for §179D On December 23th, 2022 the Internal Revenue Service Issued Announcement 2023-01, affirming the applicable standards to be used for §179D Energy Efficient Commercial Building Tax Deduction, starting January 1st, 2023. The announcement clarifies that the reference standard to be used for projects being […]

Inflation Reduction Act -Prevailing Wage And Apprenticeship Notice Issued

IRS Issues Notice providing Guidance for Prevailing Wage and Apprenticeship requirements. On November 30th, 2022 the Internal Revenue Service Issued Notice 2022-61, Prevailing Wage and Apprenticeship Initial Guidance under Section 45(b)(6)(B)(ii) and Other Substantially Similar Provisions. This Notice is the first step in clarification of the major changes that came as part of the Inflation […]

Expectations for Upcoming ASHRAE changes to §179D Tax Deduction

Inflation Reduction Act

Together with §179D having been made permanent as part of the Consolidated Appropriations Act of 2021 this past December, one of the major changes came in the form of more stringent ASHRAE requirements for the qualification of the energy efficient commercial buildings. When the new standards will come into effect is still to be determined, […]