What’s the story with Diesel Fuel and Taxes? Someone told me today that if you use Diesel Fuel in a non-Commercial Car or Truck you are allowed to take the Diesel Tax (that is included in the price per gallon) directly off the amount of Tax you actually owe the IRS.
EX: If you owe $1,000. in Fed Tax and you had used aprox: 1064 gallons of Diesel fuel in the course of the year, you then owe the IRS nothing because .94 cents of every gallon of Diesel Fuel is Commercial Truck Tax that regular consumers don’t have to pay. Hence the deduction! Any truth to this?
By the way, he wasn't 100% positive on the .94 cents but he said he thinks it's close.
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... Teh black won't get you back
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