Announcement

Collapse
No announcement yet.

Which federal tax incentives were extended in the recently enacted Tax Reief Act?

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Which federal tax incentives were extended in the recently enacted Tax Reief Act?

    Question of the Month: Which federal tax incentives were extended as a result of the recently enacted Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010?

    Answer: On December 17, 2010, President Obama signed H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Public Law No: 111-312). This Act extends and reinstates several alternative fuel tax credits through December 31, 2011. See the Federal Incentives & Laws Web page for additional information.

    Extended tax credits include:

    The Act also reinstates several tax credits that expired after December 31, 2009:
    Special Rule for 2010 Excise Tax Credit Claims:
    The Alternative Fuel, Alternative Fuel Mixture, and Biodiesel Mixture Excise Tax Credits were reinstated retroactively, meaning taxpayers may submit a one-time claim for qualified fuel sold or used during the 2010 tax year. The U.S. Internal Revenue Service (IRS) has issued special guidance to allow a 180-day period for the submission of these claims. Please refer to the IRS Notice 2011-10 for additional information (http://www.irs.gov/pub/irs-drop/n-11-10.pdf).

    Expired Incentives:
    Two vehicle purchase incentives expired after December 31, 2010, and were not extended:
    · Qualified Alternative Fuel Motor Vehicle Tax Credit
    · Light-Duty Hybrid Electric Vehicle and Advanced Lean Burn Vehicle Tax Credit

    The descriptions of these expired tax credits, including the expiration dates, will remain on the Federal Incentives & Laws Web site until the federal tax filing deadline.
    [ATTACH=CONFIG]temp_4586_1441434431016_578[/ATTACH]

  • #2
    Re: Which federal tax incentives were extended in the recently enacted Tax Reief Act?

    So, if I'm reading this correctly there is no longer a federal tax credit for purchasing a NNGV?

    Comment


    • #3
      Re: Which federal tax incentives were extended in the recently enacted Tax Reief Act?

      Correct. I see you are in Utah, there is a credit up to $2,500
      http://www.airquality.utah.gov/Plann...editsintro.htm

      Other state and local credits are here:
      http://cngchat.com/forum/showthread....ral-All-States

      Comment


      • #4
        Re: Which federal tax incentives were extended in the recently enacted Tax Reief Act?

        So does anybody have any information regarding the expired Fed. Tax Credit? Is this likely to be renewed (perhaps retroactively as they did in 2009)? Surely somebody is lobbying for this-- is there a pending bill?

        Comment

        Working...
        X