Topics: Biodiesel Tax Credit

House Ways and Means Committee Advances Tax Extenders

The House Ways and Means Committee late last night advanced legislation that would extend temporary tax provisions through 2020, including the Biodiesel Tax Credit. The committee voted 25 to 17 to advance a bill to extend the tax breaks that expired in 2017 and 2018 or will expire at the end of this year. More

Sens. Klobuchar, Duckworth Lead Letter Urging EPA to Cease Issuing Small Refinery Waivers

U.S. Senators Amy Klobuchar (D-MN) and Tammy Duckworth (D-IL) led a group of 12 senators in urging Environmental Protection Agency (EPA) Administrator Andrew Wheeler to stop granting small refineries hardship exemptions from their biofuel blending requirements under the Renewable Fuel Standard (RFS). More

Rep. Finkenauer Urges Congress to Extend the Biodiesel Tax Credit

Rep. Finkenauer (D-IA) urged Congress to extend the biodiesel tax credit during June 4 testimony at a Members’ Day Hearing before the House Committee on Ways and Means. More

Sens. Grassley, Wyden Introduce Tax Extenders Legislation

U.S. Senate Finance Committee leaders on Feb. 28 introduced legislation to extend the biodiesel tax credit and a variety of other tax provisions that expired in 2017. The legislation provides for a two-year extension covering activities (i.e., biodiesel blending) that occurred in 2018 and 2019. More

NATSO, Nine Trade Associations Urge Multiyear Extension of Biodiesel Tax Credit

NATSO today joined nine trade associations in urging Congress to pass a multiyear extension of the biodiesel blenders' tax credit in a joint letter representing producers and marketers of renewable fuels. More

NATSO, Others Continue to Pursue Tax Extenders

Incoming Senate Finance Chairman Chuck Grassley (R-Iowa) told Politico that he has "very little interest in the Ways and Means Committee" for tax extenders, "except maybe for a couple," which could include the biodiesel tax credit. More

NATSO, Others Urge Congress to Renew Tax Extenders

NATSO joined nearly 60 organizations representing a variety of business, energy, transportation, and agriculture stakeholders in urging Congress to renew expired tax incentives through the end of 2019 before the 115th Congress adjourns. More

NATSO, Biodiesel Supply Chain United in Support of Biodiesel Blender’s Tax Credit

NATSO on June 25 along with all major associations representing the biodiesel supply chain united in urging House and Senate Leaders and the two key tax writing committees to extend the $1 per gallon biodiesel blender’s tax credit as well as to seek a permanent tax incentive that will help foster growth in the domestic biodiesel market. More

NATSO Testifies Before Congress on Biodiesel Policy

Robin Puthusseril, Vice President and Co-Owner of the Greater Chicago I-55 Truck Plaza in Bolingbrook, Ill., testified June 22. More

IRS Explains Procedures for Claiming Retroactive 2017 Biodiesel Blender 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 2017. Notice 2018-21 prescribes rules for how taxpayers can claim one-time credits for selling or using biodiesel, renewable diesel, and other alternative fuels (such as natural gas) in 2017. The notice also outlines how entities can offset liability for federal gasoline and/or diesel taxes with the 2017 credits, and further provides instructions for how taxpayers can make certain income tax claims on biodiesel and alternative fuels. More