Internal Revenue Service, Treasury § 48.6420–5Irrevocable Written Agreement • December 18th, 2014
as user and ultimate purchaser must execute an irrevocable written agree- ment (as here described) no later than the date on which the aerial applicator or other applicator claiming the credit or payment files its return for the tax- able year in which the gasoline is used. The agreement must identify the pe- riod for which the owner, tenant, or op- erator waives the right to credit or payment. The effective period of the waiver cannot extend beyond the last day of the taxable year of the owner, tenant, or operator of the farm on which the gasoline was used. If the owner, tenant, or operator’s taxable year extends beyond the taxable year of the applicator, the applicator can only claim a credit or payment for pe- riods included in the applicator’s tax- able year. Periods after the last day of the applicator’s taxable year which are included under the agreement must be claimed on the applicator’s return for the next succeeding taxable year. The waiver may be in the form shown under para
