Bloomberg Tax
Feb. 19, 2020, 9:55 PMUpdated: Feb. 19, 2020, 10:24 PM

IRS Offers ‘Essential’ Answers to Carbon Capture Investors (2)

Lydia O'Neal
Lydia O'Neal

Companies seeking tax credits in return for using technology to capture carbon dioxide now have two sure routes to knowing when the IRS thinks their projects actually started—and when they qualify for the tax benefit.

Investors spent two years waiting for Wednesday’s guidance, which was needed after lawmakers expanded the credit for carbon capture and sequestration under tax code Section 45Q. Some projects stalled during that time.

Time is of the essence: Construction on the projects must start before 2024 to qualify for the credit, and the expansion is effective for tax years that start ...

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