Energy Efficient Commercial Buildings News from Send2Press Newswire

Energy Efficient Commercial Buildings News

News items related to Energy Efficient Commercial Buildings as issued by the Send2Press Newswire service on behalf of the noted news source.

Tax Court Case: Engineering Firm Overstated §179D Energy Efficient Commercial Building Property Deduction

Thu, 16 Mar 2023, 13:27:05 EDT | From: ICS Tax LLC

COLUMBUS, Ohio, March 16, 2023 (SEND2PRESS NEWSWIRE) — In a recent case, Michael Johnson, et ux. v. Commissioner, the tax court denied the majority of a taxpayer’s Energy Efficient Commercial Building Deduction under IRC §179D since it claimed a §179D Deduction exceeding the cost of the Energy Efficient Commercial Building Property (EECBP), says ICS Tax, LLC.

IRS Releases Updated Practice Unit for Auditing the 179D Energy Efficient Commercial Buildings Deduction

Wed, 27 Jul 2022, 07:00:09 EDT | From: ICS Tax LLC

EGAN, Minn., June 27, 2022 (SEND2PRESS NEWSWIRE) — The IRS Large Business and International (LB&I) Division released an updated Practice Unit for its agents to audit the 179D Energy Efficient Commercial Buildings Deduction (179D Deduction), ICS Tax, LLC announced today. It confirms that taxpayers can use the ASHRAE Standard 90.1-2007 rather than newer, more strict standards but also could be an indication that the IRS will have added scrutiny on 179D projects.