IRS provides limited waiver of fuel penalty due to Hurricane Irm - Newschannel 6 Now | Wichita Falls, TX

IRS provides limited waiver of fuel penalty due to Hurricane Irma; response follows shortage of Ultra Low Sulfur Diesel

© iStockphoto.com / Alistair Scott © iStockphoto.com / Alistair Scott
  • Lifestyle HighlightsLifestyle HighlightsMore>>

  • 9 crucial tax deductions

    9 crucial tax deductions

    Friday, February 16 2018 4:06 AM EST2018-02-16 09:06:30 GMT

    Like most Americans, you probably want to get through your taxes as quickly as possible.

    Like most Americans, you probably want to get through your taxes as quickly as possible.

  • No W-2 tax form? What to do

    No W-2 tax form? What to do

    Wednesday, February 14 2018 4:05 AM EST2018-02-14 09:05:38 GMT

    These days, you probably want to file your taxes as early as possible to prevent identity thieves from filing a false return in your name — but that requires you to have the necessary forms in hand, including W-2 forms.

    These days, you probably want to file your taxes as early as possible to prevent identity thieves from filing a false return in your name — but that requires you to have the necessary forms in hand, including W-2 forms.

  • Insuring jewelry 101

    Insuring jewelry 101

    Wednesday, February 14 2018 10:05 PM EST2018-02-15 03:05:59 GMT

    For Valentine's Day, we hope you bought a thoughtful gift for your significant other. It's the thought that counts, of course, but let us give you a tip or two

    For Valentine's Day, we hope you bought a thoughtful gift for your significant other. It's the thought that counts, of course, but let us give you a tip or two

From IRS.gov

WASHINGTON – The Internal Revenue Service today announced it will not impose a penalty on certain uses of certain adulterated fuels that do not comply with applicable Environmental Protection Agency (EPA) regulations, in response to shortages of Ultra Low Sulfur Diesel (ULSD) fuel caused by Hurricane Irma.

On Sept. 13, the EPA issued a “No Action Assurance (NAA) for the Use of Non-Ultra Low Sulfur Diesel in Limited Diesel-Powered Highway and Nonroad Vehicles and Equipment” letter to the State of Florida.

According to the letter, the EPA will not pursue action for the use of certain diesel reserves of approximately 4 million gallons of dyed diesel fuel that has a sulfur content that is over 15 but no greater than 20 parts per million (ppm). The NAA imposes several conditions on the use of such fuel.

Both the EPA and Florida have requested that, consistent with the EPA NAA, the IRS waive its penalties for the use of non ULSD fuel that has a sulfur content of 20 ppm or less under these circumstances. Consequently, the IRS will not impose the adulterated fuel penalty on any uses that fully comply with the EPA’s NAA.

This relief is effective from Sept. 13, through Sept. 22, 2017, or until such dyed diesel reserves are exhausted, whichever is earlier. Because the reserves to which this relief applies are of dyed diesel fuel, the relief issued in IR-2017-149 is also available, provided the operator or the person selling the fuel pays the tax of 24.4 cents per gallon for any such fuel used on the highway.

Remember that all of the web page addresses for the official IRS website, IRS.gov, begin with http://www.irs.gov. Don' t be confused or misled by Internet sites that end in .com, .net, .org or other designations instead of .gov. The address of the official IRS governmental Web site is http://www.irs.gov/.

*DISCLAIMER*: The information contained in or provided through this site section is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional advice. Use of this site section and any information contained on or provided through this site section is at your own risk and any information contained on or provided through this site section is provided on an "as is" basis without any representations or warranties.
INFORMATIONAL DISCLAIMER The information contained on or provided through this site is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional financial or accounting advice. Always seek the advice of your accountant or other qualified personal finance advisor for answers to any related questions you may have. Use of this site and any information contained on or provided through this site is at your own risk and any information contained on or provided through this site is provided on an "as is" basis without any representations or warranties.
Powered by Frankly