Section 40B of the Internal Revenue Code of 1986 (the “Code”) enacted by the Inflation Reduction Act of 2022 (the “IRA”) provides tax credits for each gallon of sustainable aviation fuel (“SAF”) sold or used by a taxpayer...more
5/10/2024
/ Aviation Industry ,
CARB ,
Carbon Offset and Reduction Scheme for International Aviation (CORSIA) ,
Fuel Standards ,
Greenhouse Gas Emissions ,
Guidance Update ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Renewable Fuel ,
Sustainability ,
Tax Credits ,
U.S. Treasury ,
USDA
Section 40B of the Internal Revenue Code of 1986 (the “Code”) enacted by the Inflation Reduction Act of 2022 (the “IRA”) provides credits for each gallon of sustainable aviation fuel (“SAF”) sold or used by a taxpayer before...more
12/27/2023
/ Aviation Industry ,
Carbon Offset and Reduction Scheme for International Aviation (CORSIA) ,
Clean Air Act ,
Department of Energy (DOE) ,
Environmental Protection Agency (EPA) ,
Fuel Standards ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
IRS ,
New Guidance ,
Renewable Fuel Standard ,
Sustainability ,
U.S. Treasury
On December 1, 2022, the U.S. Environmental Protection Agency (“EPA”) announced its proposed rule under the Renewable Fuel Standard (“RFS”) program. For the first time, EPA establishes renewable fuel volumes and percentage...more
After a two-year delay, on June 3, 2022, the U.S. Environmental Protection Agency (“EPA”) signed and submitted for publication in the Federal Register its final rule for setting renewable fuel percentage standards under the...more
On December 7, 2021, the U.S. Environmental Protection Agency (“EPA”) signed and submitted for publication in the Federal Register its proposed rule for setting renewable fuel percentage standards. The proposed rule sets the...more
Recently, EPA’s Office of Inspector General (“OIG”) issued a notice of its audit of the agency’s oversight of the Renewable Fuel Standards Renewable Identification Number (“RIN”) market. This is the latest in a string of...more
On August 26, 2021, the Environmental Protection Agency (“EPA”) sent its proposed rule for setting renewable fuel percentage standards to the Office of Management and Budget (“OMB”) for review. The proposed rule is expected...more