Members of Congress Ask for Expedited Rules on Section 45Z

Many members of Congress wrote to Secretary Janet Yellen asking for expediated guidance on Section 45Z.

Photo by John McArthur on Unsplash

Section 45Z fuel credits will start in January 2025. However, the rules and guidance on these credits still has not been issued by the IRS. The actual Code indicates the guidance “must” be issued by January 1, 2025; however, farmers need to know how to plant their crops for 2025 which will involve tillage and other processes this year.

Several members of Congress wrote a letter to Secretary Yellen on July 23, 2024, asking for expedited guidance in this area.