IRS Proposes Rules for Implementation of Clean Fuel Production Credits

IRS Proposes Rules for Implementation of Clean Fuel Production Credits

The IRS and the Department of the Treasury have proposed regulations regarding how businesses producing clean fuels, such as biofuels, can secure tax credits, in line with updates made under the One Big Beautiful Bill Act (OBBB), the IRS said in a Feb. 3 statement. “The clean fuel production credit provides businesses an income tax credit for clean transportation fuel produced domestically after Dec. 31, 2024, and sold by Dec. 31, 2029,” the age…

IRS Issues Proposed Rules on Clean Fuel Tax Credit

The Treasury Department and the IRS released proposed regulations Feb. 3 on the clean fuel production credit under the One Big Beautiful Bill Act.