179D Energy Efficient Tax Deduction Expected to Be Renewed and Extended
House Ways and Means Democrats took the floor in a June 11th meeting to discuss a tax package that would include the renewal of tax breaks that have expired at the end of 2017 and 2018, as well as those expiring at the end of this year, and extend it through December 31st, 2020, according to Bloomberg Tax.
A draft of the package can be released as early as the week of June 17th, according to close sources. This is a promising update in the journey towards allowing taxpayers to take advantage of lucrative energy tax provisions again.
The Difference is Real Tax Savings
We have been monitoring the status of the 179D Energy Efficient Tax Deduction, and will continue to do so until taxpayers are able to once again take advantage of it. We will continue to be your source of updated information, and are prepared to help your business obtain the deduction once it becomes available.