My dad, who is a CPA, picked up this little tidbit from the latest Kiplinger Tax Letter:
“Could leftover bacon grease power your car someday? Maybe so. The Service intends to make it happen. Later this year, the IRS will make it clear that a tax credit to encourage production of renewable diesel fuel applies to animal fats as well as vegetable oils. It’s something the meat industry wants clarified when rules are issued.”
Time to start a bacon fat tin can collection in my garage!