Things are looking good for the 179D tax incentive. As we have reported here before, this incentive, along with other energy-efficient tax codes, is included in a bill that is being pushed for. The last we heard, the Democratic Party was preparing a green energy tax bill that should guarantee a renewal or extension of specific tax incentives like the 179D.
Recently, the majority of House Democrats showed up strong, with 166 members signing a letter requesting their leadership to get as many “clean energy tax policies” renewed as possible. This letter also encourages a year-end tax deal, so it looks like we can report good news soon!
Additionally, this incentive has received major outside endorsements as a group of business and energy efficiency advocates wrote to Congress asking them to pass these clean energy tax policies. They are seeking to increase green policies and efficiency in new and existing home developments. House tax writers from both sides are claiming that Congress can find a solution before the end of the year.
National Tax Group will continue to be monitoring the status and updates of these tax provisions. As experts in these specialized areas of the tax code, we are prepared to help all taxpayers obtain their incentives once they can again. Contact one of our team members to learn about the expired tax provisions and the benefits they will bring you.