IRS Prop. Reg.: Carbon Oxide Credit Corrections Made to Preamble (IRC §45Q)

Preamble for proposed regulations for carbon oxide credit corrected June 29. One change incorrectly referenced three years which was changed to five years in the following sentence: “The proposed regulations provide that the recapture period begins on the date of first injection of qualified carbon oxide for disposal in secure geological storage or use as a tertiary injectant and ends the earlier of five years after the last taxable year in which the taxpayer claimed a tax code Section 45Q credit or the date monitoring ends under subpart RR requirements or the CSA/ANSI ISO 27916:19 standard.” Another correction updated ...