IRS Continuity Safe Harbor Will Aid Renewable Projects

Law360 (January 13, 2021, 5:40 PM EST) -- On Dec. 31, 2020, the U.S. Department of the Treasury and the Internal Revenue Service issued Notice 2021-05, which provides relief for offshore renewable energy projects and renewable projects constructed on federal land.[1]

Specifically, the notice allows the continuity safe harbor — defined below — to be satisfied for projects constructed offshore or on federal land if they are placed into service no more than 10 calendar years after the calendar year during which construction began.

This relief is expected to provide additional certainty for taxpayers developing projects offshore or on federal land, given the significant construction delays often associated with such...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!