Analysis and observations on Notices 2025-10 and 2025-11
The U.S. Treasury Department and IRS in January 2025 published Notice 2025-10, providing a draft of forthcoming proposed regulations, and Notice 2025-11, providing an emissions rate table, to assist entities claiming a clean fuel production credit under section 45Z. As of the date of publication, proposed regulations have not been published in the Federal Register.
Read a March 2025 report prepared by KPMG LLP that provides a high-level summary of the notices and observations.
For more information, contact a professional in KPMG Washington National Tax:
Taylor Cortright T: +1 (202) 533-6188 E: tcortright@kpmg.com | Julie Chapel T: +1 (405) 552-2544 E: jchapel@kpmg.com |
Rachel Smith T: +1 (202) 533-3436 E: rachelsmith1@kpmg.com | Kelsey Latham T: +1 (713) 319-2436 E: kcurcio@kpmg.com |
Simon Belokowsky T: +1 (704) 335-5300 E: sbelokowsky@kpmg.com |