On October 5, 2026, President Trump issued Executive Order 14435, titled “Emergency Tax Relief on Diesel Fuel”, which directs the United States Treasury Department (the “Treasury”) to consider a temporary postponement of certain federal diesel excise taxes, and which also directs the Internal Revenue Service (the “IRS”) to suspend penalties associated with the sale and use of red-dyed diesel fuel. The IRS has since announced nationwide penalty relief beginning on October 1, 2026 through De...
Read More