IRS Issues Guidance on Section 45Q, Carbon Capture and Sequestration Credits
On February 19, 2020, the Internal Revenue Service (IRS) issued two pieces of long-anticipated guidance on Section 45Q, Carbon Capture and Sequestration credits. In this Bottom Line videocast, Susan Lafferty and Amish Shah discuss:
• Section 45Q Carbon Capture and Sequestration credit
• Beginning of Construction Guidance—Notice 2020-12
• Partnership Allocation Guidance—Revenue Procedure 2020-12
• Expected future guidance