Beginning in tax year 2016, one of the most valuable tax incentives for architects, engineers and contractors will be subject to important compliance changes. According to Linda McCluskey, alliantgroup’s Managing Director of Energy Credits and Incentives, companies seeking to claim this tax deduction will need to take a few additional steps to ensure they remain in line with IRS standards.
In her piece “Section 179D Extended: What Every Builder and Designer Needs to Know” McCluskey discusses last year’s extension of the section 179D tax deduction for both public and private buildings, highlighting the steps architects, engineers and contractors should be taking to claim their fully entitled to tax benefits. For the energy saving enhancements made to government-owned buildings at the federal, state or local levels, designers and builders can receive an up to $1.80 per square foot tax deduction on every building meeting the baseline standard.
With 179D’s extension, Congress has ensured eligible companies will continue to claim this widely claimed tax deduction—and businesses would be wise to continue to explore their eligibility.
Contact us today for more information on section 179D and alliantgroup’s tax consulting services.