Biodiesel Tax Credit

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IRS Explains Procedures for 2015 Biodiesel Tax Credits

January 21, 2016

IRS Explains Procedures for 2015 Biodiesel Tax Credits

The Internal Revenue Service (IRS) has released a guidance document outlining special one-time claim procedures for obtaining the $1.00 per gallon biodiesel blender tax credit for 2015.

2016 Market Preview: Biodiesel and Ethanol

January 8, 2016

2016 Market Preview: Biodiesel and Ethanol

What to expect with regard to the biodiesel tax credit and ethanol production in 2016.

Congress Passes Tax Extenders Legislation, Including Biodiesel Blenders Credit

December 18, 2015

Congress Passes Tax Extenders Legislation, Including Biodiesel Blenders Credit

Congress passed a tax extenders package that contains a clean, two-year extension of the biodiesel blenders credit (retroactive to Jan. 1, 2015). This is a significant victory for NATSO and the fuel marketing community. After months of intense advocacy efforts opposing a shift from a blender credit to a producer credit, Congress ultimately agreed with NATSO that a blenders credit is better for consumers and the best way to encourage domestic consumption of biodiesel.

Biodiesel Tax Credit Likely to Remain at Blender Level

December 16, 2015

Biodiesel Tax Credit Likely to Remain at Blender Level

On December 15, Congress unveiled a massive tax and spending package that will be debated over the remainder of this week. NATSO will be analyzing the thousands of pages of legislation in the coming days, but is pleased to report that some lawmakers' efforts to convert the biodiesel blenders credit to a biodiesel producers credit has failed.

ATA Supports Keeping Biodiesel Tax Credit for Blenders

November 16, 2015

ATA Supports Keeping Biodiesel Tax Credit for Blenders

American Trucking Associations (ATA) President and CEO Bill Graves recently urged Members of Congress to keep the biodiesel tax credit at the blender level, saying that the incentive has been proven to lead to lower diesel prices at the pump. In a letter distributed to Members of Congress, Graves makes clear that converting the blenders credit to a producers credit is bad policy for consumers.

NATSO Urges Congress to Leave Biodiesel Tax Credit Unchanged

October 26, 2015

NATSO Urges Congress to Leave Biodiesel Tax Credit Unchanged

NATSO joined five petroleum and biofuel trade groups in urging the House Ways and Means Committee to extend the biodiesel and renewable diesel tax credit in its traditional form as a blender credit, rather than converting it to a producers credit.

IRS: Treat 2014 Fuel Tax Credits as If They Hadn't Expired

August 17, 2015

IRS: Treat 2014 Fuel Tax Credits as If They Hadn't Expired

The IRS said taxpayers claiming biodiesel mixture and alternative fuel credits against 2014 tax liability should treat the credits as though they had never expired, Bloomberg reported.

Senate Committee Advances Tax Extenders, Shifts Biodiesel Tax Credit Upstream

July 22, 2015

Senate Committee Advances Tax Extenders, Shifts Biodiesel Tax Credit Upstream

The Senate Finance Committee on July 21 voted 23-3 to extend a $95.2 billion package of individual and business tax provisions known as tax extenders through 2016, including a modified version of the $1 per-gallon biodiesel tax credit.

NATSO Urges Senate Finance to Extend Biodiesel Tax Credit

July 20, 2015

NATSO Urges Senate Finance to Extend Biodiesel Tax Credit

NATSO joined a group of petroleum retailers and marketers in urging members of the Senate Finance Committee to extend the $1 per-gallon biodiesel tax credit when it considers a package of individual and business tax provisions known as tax extenders July 21.

NATSO Responds to Finance Committee Call for Tax Reform Input

April 16, 2015

NATSO Responds to Finance Committee Call for Tax Reform Input

NATSO filed comments April 15 with the Senate Finance Committee in response to the committee’s call for stakeholder and public input on how best to overhaul the nation’s tax code.

House Passes Tax Extenders, Senate Vote Imminent

December 4, 2014

House Passes Tax Extenders, Senate Vote Imminent

The U.S. House of Representatives late Dec. 3 approved a one-year renewal of more than 50 tax breaks, including the $1 per-gallon biodiesel tax credit.

Tax Extenders Legislation Faces Uncertain Fate

November 26, 2014

Tax Extenders Legislation Faces Uncertain Fate

Despite reports that a bill renewing a series of expired tax credits is nearing completion, tax extenders legislation is becoming more controversial on Capitol Hill, threatening its chances of passing this year.

NATSO Urges Quick Action on Tax Extenders

November 14, 2014

NATSO Urges Quick Action on Tax Extenders

NATSO and a group of associations representing the nation's fuel retailers are urging Congress to act quickly on a tax extenders package, with particular support for a retroactive extension of the $1-per-gallon biodiesel tax credit.

November 7, 2014

Tax Extenders Package Expected in Lame Duck

When Congress returns to Capitol Hill on Nov. 12 for the lame duck session, Republicans and Democrats are expected to discuss several issues of importance to NATSO members, one of which could be a tax extenders package.

House Democrats Introduce Legislation to Extend Biodiesel, Alternative Energy Tax Credits

September 26, 2014

House Democrats Introduce Legislation to Extend Biodiesel, Alternative Energy Tax Credits

Representatives Earl Blumenauer (D-Ore.) and Dave Loebsack (D-Iowa) introduced legislation Sept. 19 that would extend expiring alternative energy-related tax incentives, including the $1 per-gallon biodiesel tax credit.

Senate Blocks Tax Package, Includes Biodiesel Tax Credit

May 16, 2014

Senate Blocks Tax Package, Includes Biodiesel Tax Credit

Legislation to extend tax credit provisions that expired at the end of 2013 failed in the Senate May 15 after a procedural vote to move forward on the bill failed 53-40, short of the 60 votes needed.

Senate Committee Moves Tax Package, Includes Biodiesel Credit Extension

April 4, 2014

Senate Committee Moves Tax Package, Includes Biodiesel Credit Extension

The Senate Finance Committee approved legislation on April 3 to extend tax credit provisions that expired at the end of 2013. Notable to fuel marketers was the inclusion of a two-year extension of the $1 per gallon biodiesel tax credit. NATSO has communicated extensively with the committee over the last several months supporting the provision.

  NATSO Opposes Biodiesel Production Tax Credit

February 14, 2014

NATSO Opposes Biodiesel Production Tax Credit

NATSO opposes legislation introduced by Senators Maria Cantwell (D-Wash.) and Charles Grassley (R-Iowa) to move the biodiesel tax credit away from blenders to biodiesel producers.

NATSO and Renewable Energy Group Team Up to Offer Biodiesel Webinar June 6

May 22, 2013

NATSO and Renewable Energy Group Team Up to Offer Biodiesel Webinar June 6

In February, attendees at The NATSO Show 2013 had the opportunity to attend a NATSO U educational session on making biodiesel profitable at your travel plaza. NATSO and Chairman's Circle member Renewable Energy Group are partnering to offer the presentation again on June 6! NATSO members only can register for this free webinar held Thursday, June 6 from 4:00 p.m. to 5:00 p.m. EDT.

IRS Issues Simplified Procedures for Claiming Retroactive Biodiesel Blenders Credit

April 8, 2013

IRS Issues Simplified Procedures for Claiming Retroactive Biodiesel Blenders Credit

The Internal Revenue Service (IRS) has issued new and simplified filing procedures for 2012 retroactive biodiesel blender claims. The new procedure allows claims for all four quarters of 2012 to be filed on IRS Form 8849 Schedule 3. Blenders are no longer required to file amended IRS Form 720X returns to obtain 2012 biodiesel blending credits provided the claim is filed by July 1, 2013.

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