The enhanced oil recovery credit under section 43 will be applicable for 2016 without any phase-out.
Following a 10-year hiatus of the credit, many oil industry professionals may have little or no experience with the enhanced oil recovery credit; those professionals as well as individuals with prior experience may benefit from the summary refresher presented.
Read a July 2016 report [PDF 108 KB] prepared by KPMG LLP: What’s News in Tax: Enhanced Oil Recovery Credit Reinstated for 2016
Read also a 2016 report [PDF 387 KB] prepared by KPMG LLP: The return of the enhanced oil recovery tax credit
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