Law360 Quotes Anne Levin-Nussbaum on IRS’s Renewable Energy PTC Guidance
Anne Levin-Nussbaum, a senior attorney in Akin Gump’s tax practice, spoke with Law360 about new guidance issued by the IRS regarding the renewable energy production tax credit (PTC).
According to the new rules, certain projects will be eligible in 2014 for the PTC if developers make significant physical construction work this year or spend more than 5 percent of the project’s total cost. That figure, according to Levin-Nussbaum, is in line with the Treasury Department’s 5 percent standard safe harbor.
There are, however, some unresolved questions, according to Levin-Nussbaum. It is still unclear, she says, what the impact will be on developers who start a project this year but transfer it to another developer in the future.