Tax Update Blog: Permalink

« Previous · Tax Update Blog Home · Next »

IRS ISSUES GUSHER OF ENERGY CREDIT RULINGS

June 02, 2006

The IRS issued three pieces of guidance on recently enacted energy bills.

Notice 2006-52 shows how taxpayers can get qualified for a deduction of up to $1.80 per square foot on energy-saving improvements to commercial buildings under new Code Sec. 179D.

Notice 2006-53 provides that siding and drywall do not qualify as "a component specifically and primarily designed to reduce heat loss or gain of a dwelling."

Notice 2006-54 provides guidance "that a vehicle manufacturer may use if it chooses to certify that a vehicle of a particular make, model, and year meets certain requirements for the new qualified alternative fuel motor vehicle credit and the amount of the credit allowable for that vehicle."

      Bookmark: del.icio.us • Digg • reddit