Fuel Tax Credits 2014

The alternative fuel tax credit that expired on December 31, 2013 has been extended for the entirety of 2014! Congress passed the bill that will extend the tax credit on December 19, 2014.

Unfortunately, almost all of the extension period was retroactive. Some of the normal deadlines for making IRS fillings for this credit have already passed. The IRS has issued guidance to help with this issue.

The main takeaway from the IRS guidance is that there is a one-time opportunity to file and claim the credit for 2014. The last day to make this filing will be August 8, 2015. (Prior anticipatory and preemptive filings for 2014 must be resubmitted during this period.) Form 8849, Claim for Refund of Excise Taxes, along with the guidance to claim the tax credit can be found below. 

Please consult with individual tax advisors or a certified accountant for further advice. 

 Forklift Propane today with questions regarding the 2014 tax credit or our forklift propane services.