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Form 4136 online Clovis California: What You Should Know
The alternative fuel credit. What is the alternative fuel credit? The alternative fuel credit (AFC) is an investment credit for federal income taxes paid on qualified sources of oil used in the production of fuel. The government estimates the annual federal income tax savings to be 3 billion. Taxpayers with AGI of at least 100,000, and those who file the 2025 individual income tax return are eligible for AFC. How Does the Alternative Fuel Credit Work? The alternative fuel credit is an investment credit for the federal income tax paid on qualified sources of oil used in the production of fuels. The AFC is calculated as the difference between an amount paid by the taxpayer for qualified fuels on a federal tax return for the preceding tax year and the amount of the taxpayer's investment in an oil refiner that produces AFTC-qualified fuels. How Do I Claim the Alternative Fuel Credit? To claim the alternative fuel credit, enter your income, AGI, and the following in the 'Other information' area on the Form 4136 application form: The amount you paid for qualified fuels in the previous tax year The amount you invested in an oil refiner for the production of AFTC-qualified fuels, and The amount invested in the oil refinery used by the refiner to produce AFTC-qualified fuels. When you file your taxes this year, you will need to attach your tax return and the Form 4136 application form to your tax return. If you filed a return during 2016, the tax return you filed for 2025 will not be accepted, due to the current federal budget cuts. You should file a new tax return, with new tax information, for the 2025 tax year. Why Does the Alternative Fuel Credit Reduce My Taxes? The federal tax credit for AFTC-qualified fuels reduces the federal income tax you owe. AFTC-qualified fuels are diesel (or diesel mixture), biofuel, cellulose ethanol, or liquefied natural gas. What is Diesel? Diesel is an official form of fuels. When used in your car, it meets the EPA's strict air quality standards and is considered clean air fuel. Diesel has been used to power thousands of cars and trucks since the start of the 20th century. Most diesel vehicles are clean air powered by compressed natural gas (CNG).
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