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.
ShareholderChris is an energy attorney who advises utilities, developers, emerging technology companies and investors on transactional and commercial matters at the intersection of infrastructure development, tax credits and evolving ...
ShareholderJenny represents clients in all types of tax disputes and controversy, including federal and state audits, administrative appeals and litigation. She also advises on energy tax credits, including those created or expanded by the ...
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