IRS Releases Guidance on Retroactive Biodiesel Tax Claims

The Internal Revenue Service has issued guidance on how to claim biofuel tax incentives that were retroactively reinstated by Congress through 2012. The credits apply to the biodiesel mixture credit, biodiesel credit, alternative fuel credit and the alternative fuel mixture credit that had originally expired on Dec. 31, 2011. These credits are now scheduled to expire on Dec. 31, 2013. The FAQs also describe changes to the cellulosic biofuel credit for 2013.



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