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