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U.S. IRS and Treasury Issue Final Regulations to Help Businesses Claim Credits for Carbon Capture

08 January 2021

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United States

The U.S. IRS has announced the issuance of final regulations to help businesses claim credits for carbon capture. --- Treasury, IRS provide final regulations to help businesses claim credits for carbon capture IR-2021-05, January 6, 2020 WASHINGTON – Today the Treasury Department and Internal Revenue Service issued final regulations PDF regarding the credit for qualified carbon oxide captured using carbon capture equipment placed in service on or after February 9, 2018. The final regulations help businesses understand how the credit for qualified carbon oxide sequestration may benefit those claiming two carbon capture credit amounts, which are: Up to $50 per...