Daily Tax Report ®

IRS Notice: Public Comments Submitted on Carbon Oxide Sequestration Credit (IRC §45Q)

Nov. 5, 2019, 9:54 PM

Public comments released November 5 on the Notice 2019-32 where the IRS solicited comments on carbon oxide sequestration credit in anticipation of regulations regarding the amendment of tax code Section 45Q by the Bipartisan Budget Act of 2018. The IRS asked for comments specifically on the secure geological storage and measurement of qualified carbon oxide, the recapture of the benefit of the credit for carbon oxide sequestration, and other issues. [Comments from National Mining Association (NMA), Comments from Shell Oil Company]

View NMA Comments, View Shell Oil Comments.

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