Tag Archives: IRS

Summary of Guidance on Section 45Q Carbon Tax Credits Under 2020 Notice and Revenue Procedure

On Feb. 19, 2020, the IRS released Notice 2020-12 and Revenue Procedure 2020-12 (together, the “Carbon Guidance”) which provide highly anticipated clarity on the Internal Revenue Code Section 45Q credit for carbon oxide sequestration. The Carbon Guidance provides details on determining when construction has begun on an eligible project, and valid partnership allocations (including a permissible partnership flip structure), … Continue Reading

IRS Issues Final Regulations on Solid Waste Disposal Facilities

On August 18, 2011, the Internal Revenue Service (IRS) issued final regulations regarding the types of facilities that qualify as "solid waste disposal facilities" under section 142(a)(6) of the Internal Revenue Code and therefore are eligible for financing with tax-exempt private activity bonds. In their GT Alert, Carla Young and Vanessa Albert Lowry examine the new regulations. … Continue Reading