 The ability to claim tax credits is often dependent on compliance with very technical requirements such as an affirmative finding that a particular asset was placed in service by a particular date. Two examples are the non-conventional fuels credit under Section 29 of the Code and the historic rehabilitation credit under Section 47 of the Code. Each of these credits has particular requirements for when an asset must be placed in service. If the appropriate requirements are not met, the taxpayer is ineligible to claim the credit. Ambridge’s Tax Insurance product can be utilized in connection with a given fact-pattern, to provide protection to a taxpayer against a loss of tax credits because of a determination that the technical requirements were not met.
For an example of how Ambridge’s Tax Insurance products can be used to address uncertainty relating to tax credits, please click here. |
