National Tax Group is excited to announce that the 179D and 45L tax incentive legislation has been extended through 2020!
We have been closely monitoring the status and working with government representatives to lobby for the extension of these expired tax incentives that we specialize in. Legislation has extended these two tax initiatives through December 31, 2020. This is major news in the world of construction & development and means your business can again, take advantage of this most lucrative tax incentive.
This is great news for those that took advantage of these incentives before their expiration in 2017 because your business can now claim for the missing years through 2020! The Bill H.R.1865 (H.R. 1865) was a significant win for real estate and architect professionals that can benefit from these tax codes. If your residential property is currently under construction or has recently undergone renovations in order to meet the energy efficient threshold, you can immediately claim those benefits by updating your taxes for 2018 and 2019.
179D is a tax incentive that is available for newly constructed or renovated buildings that have installed energy-saving elements. This green tax deduction provides tax-saving benefits for commercial building owners, as well as architectural and design firms that have worked on government projects which can now be claimed back for 2018, 2019 and through 2020.
So contact us today because we are ready to help you maximize these credits for 2020 as well as claim the credits you would have earned from 2018-2019.