[Federal Register Volume 70, Number 65 (Wednesday, April 6, 2005)]
[Notices]
[Page 17513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-6838]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Publication of Inflation Adjustment Factor, Nonconventional 
Source Fuel Credit, and Reference Price for Calendar Year 2004

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice.

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SUMMARY: Publication of the inflation adjustment factor, 
nonconventional source fuel credit, and reference price for calendar 
year 2004 as required by section 29 of the Internal Revenue Code (26 
U.S.C. section 29). The inflation adjustment factor, nonconventional 
source fuel credit, and reference price are used in determining the tax 
credit allowable on the sale of fuel from nonconventional sources under 
section 29 during calendar year 2004.

DATES: The 2004 inflation adjustment factor, nonconventional source 
fuel credit, and reference price apply to qualified fuels sold during 
calendar year 2004.
    Inflation Adjustment Factor: The inflation adjustment factor for 
calendar year 2004 is 2.1853.
    Credit: The nonconventional source fuel credit for calendar year 
2004 is $6.56 per barrel-of-oil equivalent of qualified fuels.
    Reference Price: The reference price for calendar year 2004 is 
$36.75. Because this reference price does not exceed $23.50 multiplied 
by the inflation adjustment factor, the phaseout of credit provided for 
in section 29(b)(1) does not occur for any qualified fuels sold during 
calendar year 2004.

FOR FURTHER INFORMATION CONTACT:
    For questions about how the inflation adjustment factor is 
calculated--Wu-Lang Lee, RAS:R:TSBR, Internal Revenue Service, 1111 
Constitution Avenue, NW., Washington, DC 20224, Telephone Number (202) 
874-0585 (not a toll-free number).
    For all other questions about the credit or the reference price--
Kelly Morrison-Lee, CC:PSI:7, Internal Revenue Service, 1111 
Constitution Avenue, NW., Washington, DC 20224, Telephone Number (202) 
622-3120 (not a toll-free number).

    Dated: March 31, 2005.
Heather C. Maloy,
Associate Chief Counsel (Passthroughs and Special Industries).
[FR Doc. 05-6838 Filed 4-5-05; 8:45 am]
BILLING CODE 4830-01-P