Energy Tax Extenders

The American Taxpayer Relief Act of 2012 (H.R. 8) has been discussed already in this blog.  In addition to the income tax, estate tax, and payroll tax provisions, the American Taxpayer Relief Act of 2012 contained provisions for the extension of energy tax incentives.  Although much of the American Taxpayer Relief Act of 2012 made a number of permanent changes to the law, the energy tax incentives were only extended through 2013.  The following provisions were extended through 2013:

  • The Section 25C credit for energy-efficient improvements to existing homes.
  • The cellulosic biofuels production tax credit.
  • The $1.00 per gallon tax credit for biodiesel, as well as the $1.00 per gallon tax credit for diesel fuel created from biomass.
  • The production tax credit for wind facilities.
  • The production tax credit for solar facilities.
  • The credit for construction of energy-efficient new homes that achieve a reduction in heating and cooling energy consumption.
  • Cellulosic biofuels bonus depreciation.
  • The $0.50 per gallon alternative fuel tax credit and alterntative fuel mixture tax credit.

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