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Treasury Eyes Year-End Release of Rules Awaited By Clean Energy

Dec. 11, 2020, 6:24 PM

The Treasury Department is rushing to release final rules for an expanded credit for capturing carbon dioxides by the end of the year—a goal that could be tough to meet.

Tax professionals say they would be surprised if the department met that deadline, amid officials’ hurry to complete regulations for the 2017 tax law—one of the departing administration’s crowning achievements—before President-elect Joe Biden’s administration takes over in late January. Investors and developers are eagerly awaiting the regulatory certainty that comes with having final rules on the books.

The IRS released proposed rules (REG–112339–19) for the expanded carbon capture ...

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