“Promoters are pushing the accelerator on bad Fuel Tax Credit claims and driving honest taxpayers to a bad choice,” said IRS Commissioner Danny Werfel. “These promoters frequently charge a large fee to the taxpayer to make these false claims. While the scammers drive...
A key example is KPMG's FTC Automator, which analyses vast amounts of data at speed and scale, and harnesses proprietary geo‐spatial analytics to process this data, before feeding it into the tax engine to produce Fuel Tax Credit (FTC) entitlement calculations. The al...
What is a “fuel tax credit” or “fuel tax refund”? The federal government and most states add a special tax to ALL fuel (e.g. gasoline, diesel) purchased at retail gas stations. This “fuel tax” is used to pay for the maintenance of roads, bridges and public transportation systems...
tax credit under the Inflation Reduction Act, although the opening isn't as wide as some agriculture officials and their congressional allies had hoped. The decision disappointed environmentalists, who are concerned that the tax credit won't go far enough to incentivize newer, cleaner types of ...
The Clean Fuels Production Credit provides a tax credit for the production of transportation fuels with life cycle greenhouse gas (GHG) emissions below certain levels. The credit applies to eligible transportation fuel produced domestically after Dec. 31, 2024, that is sold by Dec. 31...
I’ve been in landscaping for 10+ years and I had no idea about the fuel tax credit. I downloaded FuelCred and the entire process was super simple. I got back $1,100 this year. I definitely recommend this app for any landscaping business. If I had FuelCred over the years, I could...
Reuters (2024) Retrieved from https://www.reuters.com/sustainability/little-no-ethanol-will-qualify-us-aviation-fuel-credit-2024-05-30/ Google Scholar Dube and Nhamo, 2019 K. Dube, G. Nhamo Climate change and the aviation sector: a focus on the Victoria Falls tourism route Environmental Devel...
A USD148.5 million federal tax credit has been awarded to X-energy for the construction of the first-of-a-kind facility in Oak Ridge, Tennessee. The TX-1 fuel fabrication plant will be constructed by the company's TRISO-X subsidiary and is designed to produce up to 714,000 TRISO fuel ...
the clean energy word of 2023, given all the chatter this year about the versatile fuel that could help decarbonize industry, agriculture, and transport. Much of that chatter has focused on the clean hydrogen tax credit in the Inflation Reduction Act, or 45V as it’s known in the tax ...
Notice 2024-37 provides safe harbors for determining Section 40B sustainable aviation fuel emissions reduction percentage.