Topics: Biodiesel Tax Credit

NATSO Advocates for Biodiesel Blender Tax Credit

NATSO and a group of coalition partners representing the entire biodiesel supply chain, including consumers, sent a letter to members of the Senate Finance Committee on June 13 reiterating support for the biodiesel blenders tax credit. The letter was sent one day before the Committee is scheduled to hold a hearing on energy tax issues. More

Effort to Change Biodiesel Tax Credit Fails Again

Certain biodiesel producer interests tried in recent weeks to include in unrelated Federal Aviation Administration (FAA) legislation a provision that would have repealed the $1.00/gallon biodiesel blenders' tax credit and replaced it with a producers' credit. Thanks to strong pushback from NATSO and other interested parties, that effort has failed, and the provision has not been included in that legislation. More

IRS Issues Forms for Biodiesel Tax Credit Claims

The Internal Revenue Service (IRS) has released forms that biodiesel blenders can use to file claims for the $1.00/gallon biodiesel blender credit. One form is for retroactive 2015 claims, and the other is for 2016 claims. Claims for biodiesel blends created in 2016 must be filed separately from retroactive clems for belnds created in 2015. More

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. More

2016 Market Preview: Biodiesel and Ethanol

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

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. More

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. More

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. More

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. More

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. More

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