2017 Biodiesel Blenders Credit Claims Due By September 29, 2018

Earlier this year, Congress included a major provision in a budget bill reinstating the $1.00 per gallon biodiesel blender’s tax credit retroactively for calendar year 2017.  Unfortunately, Congress was unable to extend the eligibility for the credit to biodiesel gallons sold in 2018.  The deadline for filing for the biodiesel blender’s tax credit for biodiesel gallons sold in 2017 is September 29, 2018.

As a reminder, the Internal Revenue Service has issued guidance on the procedures available for filing credit claims.  IRS Notice 2018-21 outlines how entities can offset liability for federal gasoline and/or diesel taxes with the 2017 credits, and further provides instructions for how taxpayers can make certain income tax claims on biodiesel and alternative fuels.