Princeton, NJ / ACCESSWIRE / Aug 11, 2014 / Despite the political gridlock surrounding a proposed renewal and extension of the bill, Claris Energy is announcing its continued assistance to businesses seeking to apply under the 2013 IRS Section 179D tax deduction. Efforts to renew and extend the IRS Section 179D tax deductions will be paused until Congress resumes after a five-week recess.

With experience in preparing all necessary documents under the IRS 179D deduction, Claris Energy is calling for eligible institutions to seek assistance navigating through the IRS guidelines. Claris Energy can prescreen planned projects to determine if they might qualify under EPAct 179D. In addition, the company has extensive experience in preparing the required paperwork, including all calculations, certification reports, independent third-party tax studies, and coordination with the applicant company's tax adviser. Claris Energy is working to spread the word that several energy-efficient projects completed and placed into service between January 1, 2006 and December 31, 2013 may still qualify for the deduction. Even with political uncertainty regarding future extensions of IRS 179D, businesses are encouraged to investigate eligibility for the deduction of already completed projects.

The Energy Efficient Commercial Building Tax Deduction, IRS 179D, was enacted as an incentive for owners of commercial and industrial buildings now required to comply with higher energy efficiency standards. Section 179D allows for up to $1.80 per square foot in deductions, to those facilities upgrading energy efficiency through lighting, HVAC, building envelope, and hot water systems. Qualified applicants for the deduction include owners of energy efficient commercial or multifamily properties built or retrofitted after December 31st, 2005, as well as architects, engineers, ESCO's, and designers of energy efficient municipal building projects. Countless eligible institutions do not take advantage of the deduction due to unawareness of the deduction and its perceived complexities.

With the current Section 179D expiring at the end of 2013, a proposal to extend the deduction for three years, and to expand the beneficiary categories, had been introduced in the Senate earlier this year. Disagreement over the extension caused the proposed bill to be blocked in the Senate. No official action has yet been taken by the House of Representatives. It is worthwhile for facility managers to consider tax planning steps, in order to fully maximize the current 179D provisions.