November 2, 2024
Treasury Department and IRS Issue Guidance for SAF Credit
On October 18, 2024, the U.S. Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) issued Notice 2024-74 for the Sustainable Aviation Fuel (SAF) credit created by the Inflation Reduction Act (IRA). According to the IRS’ October 18, 2024, press release, the SAF credit ranges from $1.25 to $1.75 for each gallon of SAF in a qualified mixture. To qualify for the credit, the SAF must have a minimum reduction of 50...