Reminders

Biodiesel and renewable diesel. The section 6426/6427 credits/refunds for mixtures of biodiesel, renewable diesel, and agri-biodiesel (allowed by section 6426(c)), expired for sales, uses, or removals after 2024.

Alternative fuel credit and alternative fuel mixture credit. The section 6426/6427 credits/refunds for alternative fuel and alternative fuel mixtures (allowed by sections 6426(d) and 6426(e)), expired for sales, uses, or removals after 2024.

Repurchase of corporate stock tax. The section 4501 stock repurchase tax applies to repurchases of corporate stock after December

31, 2022. See Repurchase of Corporate Stock , later.

Reducing your excise tax liability. For federal income tax purposes, reduce your section 4081 excise tax liability by the amount of excise tax credit allowable under section 6426(c) or (e) and your section 4041 excise tax liability by the amount of your excise tax credit allowable under section 6426(d), in determining your deduction for those excise taxes or your cost of goods sold deduction attributable to those excise taxes.

Caution: Due to the IRS' acquiescence in a recent court case, the section 4611 tax on exported crude oil currently doesn’t apply. See AOD 2023-01, at IRS.gov/Actions-on-Decisions .

The Infrastructure Investment and Jobs Act. Effective July 1, 2022, the Infrastructure Investment and Jobs Act reinstates the section 4661 excise tax on chemicals (other than ODCs) (IRS No. 54) and the section 4671 tax on imported chemical substances (IRS No. 17) (they previously expired on December 31, 1995). See the Instructions for Form 6627, and Environmental Taxes, later.

The Inflation Reduction Act of 2022 (the Act) made the following changes. Effective January 1, 2023, the Act reinstates and increases the Hazardous Substance Superfund financing rate (petroleum Superfund tax rate) on domestic crude oil and imported petroleum products (the taxes previously expired on December 31,1995). This makes the total section 4611 tax rate on domestic crude oil and imported petroleum products the sum of this reinstated Hazardous Substance Superfund financing rate (petroleum Superfund tax rate) and the Oil Spill Liability Trust Fund financing rate (petroleum oil spill tax rate). See the Instructions for Form 6627, and Environmental Taxes, later.

Disregarded entities and qualified subchap- ter S subsidiaries. Qualified subchapter S subsidiaries (QSubs) and eligible single-owner disregarded entities are treated as separate entities for excise tax and reporting purposes. QSubs and eligible single-owner disregarded entities must pay and report excise taxes (other than IRS Nos. 31, 51, and 117); register for most excise tax activities; and claim any refunds, credits, and payments under the entity's employer identification number (EIN). These actions can't take place under the owner's taxpayer identification number (TIN). Some QSubs and disregarded entities may already have an EIN. However, if you're unsure, please call the IRS Business and Specialty Tax line at 800-829-4933. Generally, QSubs and eligible single-owner disregarded entities will continue to be treated as disregarded entities for other federal tax purposes (other than employment taxes).

For more information on these regulations, see Treasury Decisions (T.D.) 9356, T.D. 9462, and T.D. 9596. You can find T.D. 9356 of Internal Revenue Bulletin (I.R.B.) 2007-39 at IRS.gov/irb/2007-39_IRB#TD-9356 ; T.D. 9462, I.R.B. 2009-42, at IRS.gov/irb/2009-42_IRB#TD-9462 ; and T.D. 9596, I.R.B. 2012-30, at IRS.gov/irb/2012-30_IRB#TD-9596 .

Photographs of missing children. The Internal Revenue Service is a proud partner with the

2 Publication 510 (12-2025)

National Center for Missing & Exploited Children (NCMEC) . Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.