Daily Tax Report ®

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

Nov. 12, 2019, 9:51 PM

Public comment released November 12 on 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 Basin Electric Power Cooperative]

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