Fuel retailers have until Aug. 8 to file claims for the $1.00 per gallon biodiesel blender credit for blends created in 2015. The Internal Revenue Service (IRS) will not accept claims for 2015 retroactive biodiesel blender credits filed after this date.
Claims for 2015 biodiesel blender credits must be made on IRS Form 8849 (Claim for Refund of Excise Taxes) and IRS Form 8849 (Schedule 3) (Certain Fuel Mixtures and the Alternative Fuel Credit). Taxpayers are to use a single Form 8849 and Form 8849 (Schedule 3) to claim all biodiesel volumes blended during calendar year 2015. (The IRS will not accept multiple claims for 2015 blends.).
The IRS has requested that claimants hand-write in the top margin of this form: "2015 Retroactive Biodiesel Blender Credit Claim."
Notice 2016-05 outlines how entities can offset liability for federal gasoline and/or diesel taxes with the 2015 credits, and further provides instructions for how taxpayers can make certain income tax claims on biodiesel and alternative fuels.
Claims for biodiesel blends created in 2016 must be filed separately from retroactive claims for blends created in 2015.
For 2016 claims, biodiesel blenders may use IRS Form 8849 Schedule 3 (2016) to file a claim for biodiesel blends created during calendar year 2016.
NATSO helped lead a coalition of stakeholders last year to convince Congress to reinstate the biodiesel tax credit retroactive to the beginning of 2015, and for all of 2016 as well. Domestic biodiesel producers had sought to convert the credit to a producer credit beginning in 2016, but Congress ultimately sided with NATSO and its coalition partners in favor of maintaining a blender credit.
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