On February 9th, Congress passed a budget agreement that included a number of tax energy extenders, including the Energy-Efficient Commercial Building Deduction (179D) through December 31, 2017. Since it was initially passed as part of the Energy Policy Act of 2005, Section 179D has proven not only to be sound energy policy, but a vital incentive in terms of promoting U.S. job creation and economic growth.
With this latest extension, 179D will continue to be available for the 2017 tax year, ensuring much-needed dollars for American architectures, engineering and construction companies. “This is a great day for architects, engineers and contractors who work on government buildings,” said Dean Zerbe, alliantgroup National Managing Director and former Senior Counsel to the U.S. Senate Finance Committee. “This tax provision encouraging the design of energy-efficient buildings can translate into real tax savings for U.S. businesses. The fact that Congress agreed to a one-year extension of this incentive for energy efficiency is a big positive for the future. Applaudable effort from Senator Cardin (D-MD) for his long-time championing of this provision in the Senate, as well as Congressmen Reed (R-NY) and DeFazio (D-OR).”
Tax deadlines are fast approaching, don’t wait to claim this deduction. Contact us today!