[Code of Federal Regulations]
[Title 26, Volume 15]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR48.6421-7]

[Page 230]
 
                       TITLE 26--INTERNAL REVENUE
 
                  CHAPTER I--INTERNAL REVENUE SERVICE,
                       DEPARTMENT OF THE TREASURY
                               (Continued)
 
PART 48--MANUFACTURERS AND RETAILERS EXCISE TAXES--Table of Contents
 
   Subpart O--Refunds and Other Administrative Provisions of Special 
            Application to Retailers and Manufacturers Taxes
 
Sec. 48.6421-7  Records to be kept in substantiation of credits or payments.

    (a) In general. Every person making a claim for credit or payment 
under section 6421 must keep records sufficient to enable the district 
director to determine whether the person is entitled to credit or 
payment under section 6421 and, if so, the amount of the credit or 
payment. No particular form is prescribed for keeping the records, but 
the records must include a copy of any statement or document submitted 
with the return or claim. The records must also show with respect to the 
period covered by the claim--
    (1) The number of gallons of gasoline purchased and the dates of 
purchase,
    (2) The name and address of each vendor from whom gasoline was 
purchased and the total number of gallons purchased from each,
    (3) The number of gallons of gasoline purchased by the claimant and 
used during the period covered by the claim for nonhighway purposes or 
in intercity, local or school buses,
    (4) Other information as necessary to establish the correctness of 
the claim.
    (b) Acceptable records. (1) Evidence of purchases of gasoline, and 
the purposes for which it was used, to substantiate claims may include 
paid duplicate sales invoices or tickets from the gasoline dealer or 
other vendor, and detailed records of all fuel used which show the 
amount used for the prescribed purpose and the amount used for other 
purposes.
    (2) Records maintained for Federal or State income tax purposes, or 
to support claims for refund of a State tax on gasoline, may be used to 
the extent that they contain the information necessary to substantiate 
the accuracy of the claim for credit under section 6421. However, the 
records must show separately the number of gallons of gasoline used for 
nonhighway purposes or in intercity, local, or school buses during the 
period covered by the claim.
    (c) Place and period for keeping records. (1) All records required 
by this section must be kept by the claimant at a convenient and safe 
location within the United States which is accessible to internal 
revenue officers and shall during normal business hours be available for 
inspection by internal revenue officers. If the claimant has a principal 
place of business in the United States, the records must be kept at that 
place of business.
    (2) Records required to substantiate a claim under section 6421 must 
be maintained for a period of at least 3 years from the last date 
prescribed for the filing of the claim for credit or payment.

[T.D. 8043, 50 FR 32043, Aug. 8, 1985]