Taxpayers need to be aware that the deadline for making a one-time claim for 2017 biodiesel and alternative fuel incentives is September 29, 2018.
The IRS in March 2018 issued Notice 2018-21 as guidance for claimants to follow in filing claims for 2017 biodiesel and alternative fuel incentives. One option is to claim the incentive as an excise tax payment. This payment may be made as a “one-time claim.” Notice 2018-21 states that all one-time claims for 2017 biodiesel and alternative fuel incentives must be filed on or before September 29, 2018. Read TaxNewsFlash
If the one-time claim is not made by September 29, 2018, the 2017 biodiesel and alternative fuel mixture incentives may be claimed on the taxpayer’s income tax return.
For more information, contact a tax professional with KPMG’s Excise Tax Practice group:
Taylor Cortright | +1 (202) 533 6188 | firstname.lastname@example.org
Deborah Gordon | +1 (202) 533 5965 | email@example.com
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