ALERT: Congress passes permanent extension of EPAct

As part of the recent COVID-19 relief package, Congress has passed a permanent extension of EPAct (179D). The bill was signed by the president on Sunday, 12/27/2020.

EPAct applies to any capital investment in lighting, HVAC and/or your building envelope. It was originally set to expire on Dec. 31, 2020, prior to the extension.

Below are some highlights of the recent extension:

  1. Deductions of $1.80 per square foot maximum
  2. Range from $0.30 to $1.80 per square feet
  3. Each year, the deduction will grow with inflation
  4. ASHRAE standards will be based on the ASHRAE standard that was in existence two years prior to the start of construction

An LED lighting upgrade can trigger up to four different tax deductions, including EPAct. You can learn more about these deductions here.

Click here for an estimate of tax benefits request form. Results contained in this report are estimates. Actual benefits can be provided upon completion of an asset audit of your facility and review of your asset tax records by our professional engineers and forensic CPAs. Also, entering your luminaires under the “Existing Lighting” or “New Lighting” tab is not required, but will allow for a more accurate assessment.

For more information on our tax services, or for any questions, email Frank Austin here.

Let us put our tax-centric strategy to work for you today!