US oil refiners that blended butane into gasoline from October 2014 until the end of 2016 could be eligible for more than $6 billion under a 50-cents-per-gallon alternative-fuel-mixture tax credit. The IRS has said butane should not be defined as an alternative fuel, but tax attorney Shawn O'Brien encouraged refiners to try claiming the credit while the IRS works to clarify the matter over the next year.
US oil refiners could claim billions of dollars in tax credits
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