Proposed Regulations for Section 45Q, An Overview and Discussion with the IRS
Guest Speaker: David Selig, Senior Counsel for the Office of Chief Counsel, Passthroughs & Special Industries (Branch 6), and the Branch reviewer for the section 45Q Regulations project
Guest Speaker: Maggie Stehn, Attorney for the IRS Office of Chief Counsel, Passthroughs & Special Industries (Branch 6), and the principal author of the section 45Q proposed regulations
Guest Speaker: David Lowman, Partner, Hunton Andrews Kurth LLP
*Please note: At the request of the webinar speakers, the recording of this webinar has not been made available.
The IRS and Treasury issued the long-awaited Proposed Regulations for the Section 45Q tax credit for carbon capture and sequestration on June 2nd. The Proposed Regulations provide guidance on key issues such as the contractual requirements for capturing carbon and providing for its sale or disposal, the equipment that constitutes carbon capture equipment, the environmental standards for demonstrating secure geological storage, and the rules for recapturing the tax credit. The webinar will provide an overview of the key provisions of the Proposed Regulations with input from key IRS personnel who worked on the guidance.