Deadline To File Claims For Retroactive Biodiesel Blender, Alternative Fuel Credits Aug. 11

Earlier this year the IRS issued a special one-time claim procedure (IRS Notice 2020-8) for the $1.00 per gallon biodiesel blender credit and the 50 cents per gallon alternative fuel and alternative fuel mixture credits.

The credits were reinstated retroactively for calendar years 2018 and 2019 under the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the Act).

The special procedures allow a one-time single filing for credits and payments covering the entire 2018 and 2019 claim period.

Congress reauthorized the biodiesel blenders credit through December 31, 2022 and alternative fuel and the alternative fuel mixture credits through December 31, 2020.

Only credits generated from blends created during calendar years 2018 and 2019 are subject to the retroactive filing procedures.

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