E&E News Speaks With Sarah Grey on Treasury Guidance for Carbon Capture and Storage Tax Credit Reporting

Arnold & Porter Environmental partner Sarah Grey was quoted in the E&E News article, “Treasury issues guidance for CCS tax credit,” which covered new interim guidance from the U.S. Treasury Department and the Internal Revenue Service (IRS) aimed at providing clarity for carbon capture and storage (CCS) companies seeking to claim the federal 45Q tax credit in 2025 amid uncertainty around the Environmental Protection Agency’s Greenhouse Gas Reporting Program.

“Without the Subpart RR processes that are currently baked into IRS regulation, taxpayers would be unsure of how to report, so the purpose of this interim guidance is to provide some clarity about what that reporting would look like for the 2025 calendar year,” Sarah said.

She added that the guidance is encouraging and helpful for the CCS industry as companies plan for potential regulatory gaps.

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