Carbon Capture

Carbon Capture Investors Get Tax Credit Clarity From IRS

  • Sep 30, 2022
  • Carbon Capture
  • By admin

Investors and developers looking to take advantage of an enhanced tax credit for carbon capture projects just got much-needed clarity from the IRS.

The agency, in a notice and a revenue procedure Wednesday, addressed questions that the industry has said it needs answered before projects can move forward.

  • Developers, advocacy groups, and companies wanting to cash in on the new credit have complained that their projects have been held up because it’s taken the IRS more than two years to release guidance—leaving millions of investment dollars on the sidelines.

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