Department of Treasury Agrees to Extend Deadline for ITC Safe Harbor due to COVID-19
The U.S. Department of the Treasury sent a letter in early May 2020 to Finance Committee Chair Charles Grassley stating its plans to modify "the relevant rules" related to safe harbor for the Energy Investment Tax Credit (ITC) providing more certainty for projects on longer timelines that have experienced disruptions due to COVID-19. A few weeks later, on May 27, 2020, the Treasury and IRS put out a notice extending safe harbor provisions for projects begun in 2016 or 2017. More information about the COVID-related decision can be found here.