<p>IRS Issues Practice Unit on Enhanced Oil Recovery Credit</p>

IRS Issues Practice Unit on Enhanced Oil Recovery Credit

Internal Revenue Service

The IRS released a practice unit that provides an overview of the section 43 investment credit for some costs a taxpayer pays or incurs for qualified enhanced oil recovery projects, defining common terms and addressing the credit’s phase-out provision and how to qualify, claim, and calculate the credit.

<p>The IRS released a practice unit that provides an overview of the section 43 investment credit for some costs a taxpayer pays or incurs for qualified enhanced oil recovery projects, defining common terms and addressing the credit’s phase-out provision and how to qualify, claim, and calculate the credit.</p>