Inflation Reduction Act -IRS Issues Announcement Updating ASHRAE Standard 90.1 for 2028 and later
IRA UPDATE -IRS Issues Announcement Updating ASHRAE Standard 90.1 for §179D On May 17th, 2024 the Internal Revenue Service Issued Announcement 2024-24, 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 placed […]
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 […]
Case Study 2 of 8: Qualifying as a designer of energy-efficient commercial building properties
Case Study 2 OF 8 Qualifying as a designer of energy-efficient commercial building properties Developers and owners of commercial buildings have been qualifying for IRC §179D, a section of the IRS code that provides a deduction for integrating energy efficiencies in buildings, either through new construction or retrofits. Recent changes to §179D are included in […]
Case Study 1 of 8: Qualifying as a designer of energy-efficient commercial building properties
Case Study 1 OF 8 Qualifying as a designer of energy-efficient commercial building properties Published as part of the Energy Policy Act of 2005, the IRC §179D provides the framework for establishing that the necessary energy and power cost savings occur to claim the deduction. Though more than 15 years have passed since this […]
Inflation Reduction Act of 2022 makes Major Changes to §179D and §45L Energy Tax Incentives.
We are excited to announce that the Inflation Reduction Act (IRA) of 2022 has drastically improved and expanded §179D Energy Efficient Commercial Building Tax Deduction and Extended and increased the §45L Tax Credit for Energy Efficient Homes. The new bill signed into law is full of exciting opportunities for energy-efficient buildings and homes! A […]
179D Savings Opportunity for Hotels
These days, everyone is looking for ways to cut costs and save money—and businesses are no exception. Companies and individuals alike would be smart not to pass up any opportunities for savings to allow as much income to be retained as possible. One way for businesses to cut back on long-term expenses is to implement […]
What Can Make Your Property Qualify under Section 179D
As the years have passed, Congress and the U.S. Government have taken a number of steps that promote green construction and energy usage. Over the last few years, this has been done primarily through legislations and provisions designed to benefit people investing in green technology and lower the energy consumption of their properties. One of […]
Do Your Past Commercial Solar Projects Qualify For An Unused Tax Deduction?
Have you missed out on tax deductions from your solar projects simply from not knowing about them? Well, you are in luck. Nelson Marin, our own Director of Engineering, wrote a great article for Solar Industry Magazine, you can read it here. In a nutshell, buildings that have energy efficient systems, such as photovoltaic systems, […]
