The IRS has issued special one-time claim procedures (IRS Notice 2018-21) for payment of the $1 per gallon biodiesel blender credit, reports the New England Fuel Institute. The credit was reinstated by Congress retroactively for calendar year 2017 under the Bipartisan Budget Act of 2018.
The blender credit was reauthorized retroactively for calendar year 2017 only, NEFI notes in the March 13 issue of NEON, the NEFI Energy Online Newsletter. The biodiesel blender credit was not reauthorized for calendar year 2018 or beyond. IRS Notice 2018-21 also sets forth procedures to make one-time retroactive claims for the alternative fuel credit and the alternative fuel mixture credits earned during calendar year 2017, NEON reports.