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Rev. Proc. 2020-12

SECTION 1. PURPOSE

Internal Revenue Bulletin 2020-11 · 2026-10-03 edition · updated 2026-10-04 · United States

This revenue procedure establishes a safe harbor (Safe Harbor) under which the Internal Revenue Service (IRS) will treat partnerships as properly allocating, in accordance with section 704(b) of the Internal Revenue Code (Code), the credit for carbon oxide sequestration under section 45Q of the Code (Section 45Q Credit). The Department of the Treasury (Treasury Department) and the IRS intend for the

Safe Harbor to simplify the application of section 45Q to partnerships that are eligible to claim the Section 45Q Credit.

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▸Contents — Internal Revenue Bulletin 2020-11
Internal Revenue Bulletin 2020-11

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