WASHINGTON – The Internal Revenue Service (IRS) has issued official guidance to extend the transitional rule with respect to gasoline purchased on an oil company credit card by making several corrections to Notice 2005-4, according to the IRS Notice 2005-24. The guidance will allow tax-exempt fleets to continue the use of fleet cards for the purchase of gasoline until Congress addresses the issue. Section 7(a)(1)(ii) of Notice 2005-4 states that "the pre-2005 rules relating to sales of gasoline to state and local governments and nonprofit educational organizations on oil company credit cards issued to those entities will generally apply to sales before March 1, 2005." The National Association of Fleet Administrators (NAFA) worked with several companies and organizations to convince federal officials to issue the guidance, such as Wright Express, Voyager, and the Government Finance Officers Association.
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