The Obama administration is looking to wield executive authority to enhance tax incentives for renewable energy investments, according to a story in Bloomberg BNA's Daily Tax Report, Jan. 22. According to the story, a former Obama energy and climate aide told members of the media that various options are under consideration, including a Treasury Department revenue ruling that would allow real estate investment trusts (REITs) to invest in renewable energy projects, including solar panels and wind turbines, while retaining the investors' preferential tax treatment. The move would help ameliorate some of the uncertainty currently surrounding renewable energy projects due to the expiration of short-term tax incentives like the energy production tax credit and the renewable energy investment tax credit — both of which expired at the end of 2013 and have not been addressed since. See the full McGuireWoods Consulting Tax Policy Update.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
