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26 U.S.C. § 34 — Certain uses of gasoline and special fuels

submitted 61 years ago by Pub. L. 89-44 to r/title-26-INTERNAL-REVENUE-CODE · 104 words · no verdicts yet

in plain englishAI-generated · not legal advice

Taxpayers get a tax credit for certain gasoline and fuel amounts owed to them under three specific tax-code sections. The credit doesn't apply, though, if they already filed a timely claim for that same amount under those sections.

(a) General rule. A taxpayer gets a credit against the tax imposed by this subtitle for the taxable year. The credit equals the sum of amounts payable to the taxpayer under section 6420 (ignoring section 6420(g)), section 6421 (ignoring section 6421(i)), and section 6427 (ignoring section 6427(k)). (b) Exception. The credit does not apply to any amount payable under section 6421 or 6427 if the taxpayer already filed a timely claim for that amount, and it is payable under section 6421(i) or 6427(k) instead. In other words, a taxpayer gets the credit under this section, or gets paid directly under those other sections — not both for the same amount.
the actual law source: uscode.house.gov ↗public domain
(a) General rule

There shall be allowed as a credit against the tax imposed by this subtitle for the taxable year an amount equal to the sum of the amounts payable to the taxpayer—

(1)

under section 6420 (determined without regard to section 6420(g)),

(2)

under section 6421 (determined without regard to section 6421(i)), and

(3)

under section 6427 (determined without regard to section 6427(k)).

(b) Exception

Credit shall not be allowed under subsection (a) for any amount payable under section 6421 or 6427, if a claim for such amount is timely filed and, under section 6421(i) or 6427(k), is payable under such section.

Source credit: (Added Pub. L. 89–44, title VIII, 809(c), June 21, 1965, 79 Stat. 167, § 39; amended Pub. L. 91–258, title II, § 207(c), May 21, 1970, 84 Stat. 248; Pub. L. 94–455, title XIX, §§ 1901(a)(3), 1906(b)(8), (9), Oct. 4, 1976, 90 Stat. 1764, 1834; Pub. L. 94–530, § 1(c)(1), Oct. 17, 1976, 90 Stat. 2487; Pub. L. 95–599, title V, § 505(c)(1), Nov. 6, 1978, 92 Stat. 2760; Pub. L. 95–618, title II, § 233(b)(2)(C), Nov. 9, 1978, 92 Stat. 3191; Pub. L. 96–223, title II, § 232(d)(4)(A), Apr. 2, 1980, 94 Stat. 278; Pub. L. 97–424, title V, § 515(b)(6)(A)–(C), Jan. 6, 1983, 96 Stat. 2181; renumbered § 34 and amended Pub. L. 98–369, div. A, title IV, § 471(c), title IX, § 911(d)(2)(A), July 18, 1984, 98 Stat. 826, 1006; Pub. L. 99–514, title XVII, § 1703(e)(2)(F), title XVIII, § 1877(a), Oct. 22, 1986, 100 Stat. 2778, 2902; Pub. L. 100–647, title I, § 1017(c)(2), Nov. 10, 1988, 102 Stat. 3576; Pub. L. 104–188, title I, § 1606(b)(1), Aug. 20, 1996, 110 Stat. 1839; Pub. L. 105–206, title VI, § 6023(24)(B), July 22, 1998, 112 Stat. 826; Pub. L. 110–172, § 11(a)(4), Dec. 29, 2007, 121 Stat. 2484.)

history & why it existsrecord from the source credit
  • 1965Enacted · Pub. L. 89-44 · 79 Stat. 167
  • 1970Amended · Pub. L. 91-258 · 84 Stat. 248
  • 1976Amended · Pub. L. 94-455 · 90 Stat. 1764, 1834
  • 1976Amended · Pub. L. 94-530 · 90 Stat. 2487
  • 1978Amended · Pub. L. 95-599 · 92 Stat. 2760
  • 1978Amended · Pub. L. 95-618 · 92 Stat. 3191
  • 1980Amended · Pub. L. 96-223 · 94 Stat. 278
  • 1983Amended · Pub. L. 97-424 · 96 Stat. 2181
  • 1984Amended · Pub. L. 98-369 · 98 Stat. 826, 1006
  • 1986Amended · Pub. L. 99-514 · 100 Stat. 2778, 2902
  • 1988Amended · Pub. L. 100-647 · 102 Stat. 3576
  • 1996Amended · Pub. L. 104-188 · 110 Stat. 1839
  • 1998Amended · Pub. L. 105-206 · 112 Stat. 826
  • 2007Amended · Pub. L. 110-172 · 121 Stat. 2484

A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-44 on 1965-06-21.

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