IRS revises Form 8849 Schedule 3 for 2018-’19 BTC claims

By Ron Kotrba | February 18, 2020

On Feb. 14 the Internal Revenue Service issued a revised IRS Form 8849 Schedule 3 necessary to file claims for the $1 per gallon biodiesel and renewable diesel blenders tax credit (BTC) for 2018 and 2019. The IRS issued guidance Jan. 15 on the special one-time claim procedure for the BTC, the 50-cent-per-gallon alternative fuel and alternative fuel mixture credits.

The IRS is providing a 180-day period for companies to claim retroactive tax credits, beginning Feb. 14 and ending Aug. 11. Retroactive claims received after Aug. 11 will not be processed by the IRS. All claims for both 2018 and 2019 should be submitted on a single form and include a completed version of the recently updated IRS Form 8849 Schedule 3. The IRS is expected to pay claims within 60 days of filing. If IRS does not pay a claim that conforms to the notice’s instructions within the 60 days, it will pay the claim with interest.

The credits were reinstated retroactively for 2018 and 2019 under the Taxpayer Certainty and Disaster Tax Relief Act of 2019 and signed into law Dec. 20 by President Trump. The BTC is in effect through Dec. 31, 2022, while the alternative fuel and alternative fuel mixture credits are reinstated through the end of this year.

 

 
 
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