by Gale E. Chan, Martha Groves Pugh, Philip Tingle, Madeline Chiampou Tully and Amy E. Drake,
The Internal Revenue Service (IRS) has issued additional guidance relating to when construction begins with respect to wind and other qualified facilities for purposes of the production tax credit and investment tax credit. This guidance focuses on the continuous construction and continuous efforts tests and the effects of ownership transfers of a facility after construction has begun.
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