Gain expert insights from our specialists on the 179D energy-efficient commercial buildings deduction, clean energy incentives, and Section 6417 direct pay. Our blogs equip U.S. businesses and professionals with knowledge to cut costs, boost sustainability, and leverage rebates and cash refunds for eco-friendly initiatives.
On December 20, 2019 President Trump signed into law H.R. 1865 the Further Consolidated Appropriations Act, a $1.4 trillion federal spending bill. Included in this bill are numerous tax extenders, including an extension of the 179D Deduction. The extension of 179D means that building owner and designers of government owned buildings, placed in service through the end of 2020 can now claim benefits under 179D worth up to $1.80 per square foot. Taxpayers also have the ability to amend returns to claim missed tax incentives from previous years. To find out if you qualify contact our experts today by calling 502-384-9078 or click here to email.
The bipartisan budget deal that passed on Friday, February 9, 2018 includes welcome news for building owners who have invested in energy efficiency as well as the architects and construction firms who’ve delivered their energy-efficiency projects.
Earlier today, Senate Finance Committee Chairman Orrin Hatch filed legislation that would extend a host of expired tax provisions. Section 179D would be extended through December 31, 2018 (with one-year retroactive to cover 2017).
Seeking to rewrite the script on what has been a year devoid of many signature legislative achievements, Washington Republicans are on the verge of passing the most substantial piece of tax legislation in three decades. Last week, in a show of legislative and political nimbleness that eluded Republicans during the Obamacare repeal debate, the Senate passed its version of tax reform – setting up the massive tax package for enactment before the end of 2017.
And the race is on. Less than two weeks ago, the GOP-controlled Congress fired the starting gun on a historic debate that has not occurred in more than 30 years. The full House already is poised to vote on their version of tax reform and the Senate Finance Committee will mark-up its package this week, all with an aim toward presenting the president a bill to sign by the end of 2017. Thus far, the pace of the race – controlled by Republican leadership and the chairs of the House and Senate tax-writing committees – suggests it will be a sprint to the finish. As GOP leaders enter what they hope will be the final stretch after Thanksgiving, they are sure to be met with challenges that quickly could turn this debate into a marathon.
