Methane Tax Credit Scheme Uncovered

A U.S. Department of Justice lawsuit alleges Hernando County businessmen George Calvert and Gregory Guido concocted a scheme that involves creating bogus business records supposedly documenting sales of methane from landfills in Puerto Rico, Illinois, New York, Ohio and Connecticut.
The complaint alleges that although no sales occurred, Calvert and Guido helped customers claim tax credits based on the supposed sales.
More than $30 million in improper income tax credits based on bogus methane sales were claimed as part of the scheme, the lawsuit alleges.
Under federal law, certain sales of fuel from non-conventional sources, including landfill methane, are eligible for income tax credits.