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.
01-21-2016 The Internal Revenue Service (IRS) in Notice 2016-4 extended the deadline for the employer reporting requirements under the Affordable Care Act (ACA).
01-04-2016 The Internal Revenue Service on Sept. 23 announced a new web page offering information on the Affordable Care Act’s employer mandate and reporting requirements. The ACA Information Center for Applicable Large Employers (ALE) web page provides information and resources for employers of all sizes, including sections to help employers determine if they are an applicable large employer as well as outreach materials.
09-25-2015 Owners of heavy highway vehicles are reminded to file their next federal highway use tax return with the Internal Revenue Service (IRS) by Aug. 31.
08-24-2015 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.
08-17-2015 The U.S. House of Representatives on Feb. 13 voted 272 to 142 in favor of H.R. 636, America’s Small Business Tax Relief Act of 2015, which would permanently extend Section 179 expensing of up to $500,000.
02-15-2015 New bipartisan legislation in the U.S. Congress seeks to amend the Internal Revenue Code to change the way liquified natural gas is taxed, from a volume (gallon) to an energy content (diesel gallon equivalent) basis.
06-05-2013 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.
04-08-2013 The Internal Revenue Service announced that it has finished updating its tax-processing system software allowing business and individual taxpayers to once again electronically file 2012 federal tax returns, including motor fuel excise tax returns, biodiesel credit claims as well as alternative fuel and alternative fuel mixture credits and income tax returns.
03-18-2013 The Internal Revenue Service has issued guidance on how to claim biofuel tax incentives that were retroactively reinstated by Congress through 2012.
02-11-2013 Less than one year remains before most businesses will be required to offer health benefits to their workers as part of President Obama’s healthcare law, and the Department of Treasury and IRS have moved forward on implementing the law’s employer mandate provision, publishing a 144-page proposed regulation that outlines employers’ responsibilities and coverage requirements. The regulation details requirements for full-time, part-time and seasonal workers along with how the employer mandate penalty is calculated.
01-07-2013