The Treasury Department and IRS have released Notice 2025-42, overhauling the rules for determining the Beginning of Construction (BOC) of a project for purposes of the §45Y production tax credit and §48E investment tax credit as it applies to wind and solar facilities. These changes, driven by the One Big Beautiful Bill Act (OBBBA) and Executive Order 14315, materially tighten the path to qualifying and preserving credits for wind and solar facilities.
In a new legal update, IRS Issues Substantial Changes in How Beginning of Construction is Understood, attorneys Jennifer Pusch and Chris Storey provide the latest update regarding the changes.
ShareholderIn addition to supporting clients in private practice, Chris brings over fifteen years of state and county agency experience in general counsel and regulatory roles, including serving as general counsel and assistant director for ...
ShareholderJenny assists her clients on a variety of tax matters, including:
Tax Disputes & Litigation
- State Corporate Income and Franchise Taxes: including nexus, Public Law 86-272, apportionment and federal preemption
- Federal ...