Overview
Bloomberg Tax quoted Lisa Zarlenga in a March 2 article titled "Coronavirus Menaces Tax Audits, SEC Filings for Multinationals." The article discusses how tax professionals in particular face a litany of issues if the spread of coronavirus were to cause a lasting disruption.
Zarlenga points to another type of looming issue: Investors may have trouble qualifying for wind energy-tax credits if they can't show that they satisfy the IRS's Continuity Safe Harbor rules, which require that investors demonstrate progress towards completion of a project once construction has begun. "Companies that started wind projects in 2016 have to complete them by the end of 2020 if they want to take advantage of the Continuity Safe Harbor," she says, "but if they're facing delays in getting supplies from China, that may be a challenge."
The full article can be read at Bloomberg Tax.
