Carbon Tax Credit Transfer Should Be More Flexible, IRS Told

By Joshua Rosenberg (August 26, 2020, 6:26 PM EDT) -- Organizations that wish to transfer the benefits of a carbon capture tax credit ought to be able to do so by filing amended returns, an attorney who represents such clients told the Internal Revenue Service during a virtual hearing Wednesday. 

The IRS should amend its proposed regulations on the credit, which the agency released in May, to allow companies to transfer the tax credit under Internal Revenue Code Section 45Q to other parties by filing amended tax returns, said Barbara de Marigny, tax partner at Baker Botts LLP. Under the proposed rules, the credit can only be transferred to a third...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!