bulletin Internal Revenue›Rev. Rul. 94-38 is distinguished.
Part III. Administrative, Procedural, and Miscellaneous
Internal Revenue Bulletin 1998-19 · 2026-10-03 edition · updated 2026-10-04 · United States
tion adjustment factor and reference price for calendar year 1997 were published in the Federal Register on April 1, 1998 (63 Fed. Reg. 15916).
PHASE-OUT CALCULATION
Because the calendar year 1997 reference price does not exceed $23.50 multiplied by the inflation adjustment factor, the phaseout of the credit provided for in § 29(b)(1) does not occur for any qualified fuel sold in calendar year 1997.
CREDIT AMOUNT
The nonconventional source fuel credit under § 29(a) is $6.10 per barrel-of-oil equivalent of qualified fuels ($3.00 2.0331). This amount was published in the Federal Register on April 1, 1998 (63 Fed. Reg. 15916).
DRAFTING INFORMATION CONTACT
The principal author of this notice is David G. McMunn of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this notice contact Mr. McMunn on (202)622-3110 (not a toll-free call).
26 CFR 601.602: Forms and instructions. (Also Part I, sections 6011, 6041, 6051, 6071, 6081, 6091; 1.6041–1, 1.6041–2, 31.6051–1, 31.6051–2, 31.6071(a)–1, 31.6081(a)–1.)
Rev. Proc. 98–33
PART A. GENERAL
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