Investors Await Details On Carbon Tax Credit Before Acting
Law360 (February 26, 2020, 3:47 PM EST) -- The Internal Revenue Service recently released guidance on beginning-of-construction requirements and partnership allocations for the new carbon sequestration tax credit, but investors are still waiting for more guidance from the agency before moving their capital off the sidelines.
The IRS recently detailed two ways for investors to demonstrate they have begun construction on carbon sequestration projects to qualify for a new carbon capture tax credit. (AP) The IRS’ latest guidance, released as a notice and revenue procedure on Feb. 19, provides two avenues for meeting the carbon capture credit’s beginning-of-construction requirements and provides a safe harbor for partnership allocations. And while the...
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