The Government Accountability Office (GAO) has issued a report on the refined coal production tax credit. With the goal of reducing emissions, since 2004, the federal government has offered tax credits that support the production of refined coal. The GAO reports that refined coal producers claimed nearly $1.6 billion in credits in 2019. Congress has extended the credit several times, but unless it’s extended again, the 10-year credit period for facilities placed in service before Jan. 1, 2012, expires Dec. 31, 2021. The GAO said that if the tax credit is extended, “coordinated agency review could help ensure the credit achieves its intended purpose.” Read the report: https://bit.ly/3ed1Ji1 Call or visit our website for more information! www.mjscpa.com/
