Some carbon capture projects will continue to stall, because while the IRS has answered some of investors’ and developers’ most-pressing questions, plenty still remain.
The IRS plans to issue additional guidance in the “near future” after it took the first step with a notice and a revenue procedure. That could especially benefit companies like Naturcycle LLC that are looking for the IRS to clarify how they can claim tax credits if they’re capturing carbon dioxide from the atmosphere and using it to create products like compost, cement, or plastic.
That’s an area where the IRS needs to develop “rules ...