On July 1, 2021, the IRS issued Revenue Ruling 2021-13, allowing taxpayers that claim the carbon capture tax credit under Section 45Q to own part (but not all) of the carbon capture equipment. This important ruling clears the...more
On February 19, 2020, the IRS issued two guidance items concerning the tax credit for carbon oxide sequestration (COS) under section 45Q: Notice 2020-12 and Revenue Procedure 2020-12. The new guidance is very similar to IRS...more
3/3/2020
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