Can we cut down forests and store them deep in former mines?
The only way to sequester CO2 using trees is keeping the trees alive (or blasting them with chemicals to prevent rotting).
But of course, the solution you mention is the simplest: Treat the wood with one of the several known ways to make it not break down, and leave it in big piles somewhere.
I'm sure there are no possible repercussions to doing this.
If they rot the CO2 will still be below the surface?
That's kind of a given. People generally don't like it when their homes and furniture decompose.
I'm not advocating for new mines.