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Extension of Tax Credit for Alternative Fuels – 26 U.S. Code § 6426(d), 26 U.S. Code § 6426(e), 26 U.S. Code § 6427€
- Tax Credit
IRA Statuatory Location:
13201
Tax Code Location:
26 U.S. Code § 6426(d), 26 U.S. Code § 6426(e), 26 U.S. Code § 6427
New or Modified Provision:
Extended from 12/31/2021 through 12/31/2024.
Eligible Recipients:
Clean fuel producers
Tribal Eligibility:
No
Bureau/Office
Funded by:
U.S. Department of Treasury
Description
To provide tax credits for alternative fuels. (If specific requirements are met, excess credit under § 6426(d) may be made as a payment under § 6427(e))
Direct Pay Eligibility:
No
Transferability:
No
Stackability:
Fuels eligible for the biodiesel mixture excise tax credit or the income tax creditsunder sections 40A or 40B (sustainable aviation fuels) are not eligible for the alternative fuels oralternative fuels mixture excise tax credits.
Energy Community Bonus:
No
Relevant Announcements
IRS Notice 2022-39 https://www.irs.gov/pub/irs-drop/n-22-39.pdf
Related Resources
Additional information is available on the Resources page.Key Details
Period of Availability
Through 12/31/24
Tax Mechanism:
Excise tax credit
Base Credit Amount:
$0.50 per gallon for alternative fuels and alternative fuel mixtures.
Bonus Credit Amount:
N/A