Non-Profits Now Eligible for Substantial Cash Refunds Under IRC Section 48
The Investment Tax Credit (ITC) program, as defined in IRC Section 48, presents a significant financial opportunity for non-profit organizations who invested in solar or geothermal systems. Recent legislative changes have expanded the scope of this program, allowing non-profit entities to capitalize on substantial financial incentives previously unavailable to them.
We’ll discuss your eligibility and help estimate your potential tax benefit.
We’ll discuss your eligibility and help estimate your potential tax benefit.
Non-Profits Now Eligible for Substantial Cash Refunds Under IRC Section 48
The Investment Tax Credit (ITC) program, as defined in IRC Section 48, presents a significant financial opportunity for non-profit organizations who invested in solar of geothermal systems. Recent legislative changes have expanded the scope of this program, allowing non-profit entities to capitalize on substantial financial incentives previously unavailable to them.
of your
investment back
Non-profit organizations can now qualify for a direct pay benefit of up to 50% of their investment in eligible renewable energy projects. This refund is issued as a cash payment, providing tangible financial returns on sustainable energy initiatives.
Qualification Criteria
for Non-Profits
To be eligible for the ITC program, non-profit organizations must meet the following criteria:
- Invest in qualifying renewable energy systems, primarily solar energy systems and geothermal heat pumps.
- Own the renewable energy system outright. Leased systems generally do not qualify.
- Ensure the system is installed and operational (placed in service) during the applicable tax year.
- Use the system to generate electricity or provide heating/cooling for the non-profit's facilities.
alliantgroup's Expertise in ITC
With over two decades of experience in tax incentives and credits, alliantgroup has successfully helped thousands of businesses and non-profit organizations navigate complex federal and state tax programs.
Our team of experts includes former IRS commissioners, tax specialists, and industry professionals who possess in-depth knowledge of the ITC program and its application to non-profit entities.
Our Services:
Given the intricacies of IRC Section 48 and the ITC program, alliantgroup provides comprehensive support to ensure your non-profit fully leverages this opportunity:
Eligibility assessment:
Invest in qualifying renewable energy systems, primarily solar energy systems and geothermal heat pumps.
Documentation and Compliance:
Our team of experts meticulously handle all necessary documentation to ensure full compliance with program requirements so you can focus on what matter.
Application Process Guidance:
Our experts guide you through every step of the application process, from initial filing to final fund disbursement.
Ongoing Consultation:
Our ongoing support and consultation services help you adapt to program changes and identify future opportunities in the evolving renewable energy landscape.