- 6 -
and 1989],(g),(h),(l), or (q)[(p) in 1988] by any
person with respect to fuel used * * * during his
taxable year; * * *[6]
Section 6427(i) does not refer to any claims filed under
subsection (k). Section 6427(k) makes the following reference to
an income tax credit in lieu of payment:
SEC. 6427(k). Income Tax Credit in Lieu of Payment.--
* * * * * * *
(3) Allowance of credit against income tax.--
For allowances of credit against the income
tax imposed by subtitle A for fuel used or resold
by the purchaser, see section 34.
B. Section 34
Section 34 allows a credit against income tax imposed under
subtitle A for the taxable year equal to the sum of the amounts
payable to the taxpayer under section 6427. See sec. 34(a)(3).7
6The exceptions provided in paragraphs (2),(3), and (4) of
sec. 6427(i) are not relevant to this case.
7Sec. 34(a) provides:
SEC. 34(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–-
* * * * * * *
(3) under section 6427-–
(A) with respect to fuels used for
nontaxable purposes or resold, or
(B) with respect to any qualified
diesel-powered highway vehicle purchased (or
(continued...)
Page: Previous 1 2 3 4 5 6 7 8 9 10 Next
Last modified: May 25, 2011