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KPMG report: Claiming retroactively reinstated renewable fuel incentives

Claiming retroactively reinstated renewable fuel

Renewable fuel incentives have been retroactively reinstated.

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Taxpayers may make a one-time claim related to biodiesel mixtures and alternative fuels sold for use or used during calendar years 2018 and 2019. Examples include propane or liquefied hydrogen used in forklifts, and compressed natural gas (CNG) or liquefied natural gas (LNG) sold for use in delivery trucks or buses.

Current claims for qualifying fuel may be made as often as weekly during 2020. A report from KPMG discusses the one-time claim rules and other renewable fuel incentives available to taxpayers.

Read a February 2020 report [PDF 77 KB] prepared by KPMG LLP: What’s News in Tax: Claiming retroactively reinstated renewable fuel incentives

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