Did you file a 1603 begun construction application and need placed in service advice or a final audited cost report completed? According to Treasury, if a begun construction application was submitted, you must update to a converted application within 90 days after the energy property is placed in service. You do not need to wait for a response from Treasury on your begun construction application. If you miss the 90 day deadline, you may forfeit your grant.
Experience that matters
The industry specialized professionals at Baker Tilly understand your business and your industry. Our Renewable Energy Development Support team offer substantial experience in providing in-depth placed in service and compliance solutions to existing and newly formed entities and thoroughly understands the implications of the federal 1603 grant. With an experienced Baker Tilly team as your Valued Business Advisors, you benefit from our thorough knowledge of placed in service deadlines, changing tax laws, and a sound understanding of your corporate strategy and the marketplace issues you face. We provide you with timely placed in service solutions and effective tax planning to ensure full benefits from the 1603 grant.
- Treasury Q&A response assistance
- Application filing
- Cost segregation
- Placed in service assistance
- 5-year annual grant audit filings
Accounting and tax compliance solutions
- Prepare US and state income tax forms
- Prepare energy credit forms
- Tax consulting
- Research tax credit consulting
- Federal and state tax controversy assistance
- International tax or organizational assistance
- Additional services as requested
The Baker Tilly difference
Our goal is to provide in-depth 1603 grant solutions that offer timely guidance to those awarded the grant. We become familiar with your finances, plans, and objectives, and learn to anticipate your needs. Our experienced renewable energy professionals help you identify alternatives, understand the tax implications of various choices, and structure transactions in a way that achieves their objectives. Our Valued Business Advisors use advanced planning techniques to give you innovative and objective guidance.