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On March 2, 2005, the IRS released the new form 8849, schedule 3 and its related instructions. This form is used for making claims on Alcohol and Bio-diesel mixtures. The amount and nature of these claims was changed by the JOBS act effective January 1, 2005. Prior to 2005 there was no credit for bio-diesel blends and a series of reduced rates of tax due on alcohol blends. The JOBS act eliminated the reduced rate system and created a new refund system for both alcohol and bio-diesel blends. Click here to see full explanation from PMAA.
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