IRS Announces Superfund Chemical Excise Tax Rates

excise tax Archives - TAX CONTROVERSY 360

Section 4671(a) imposes an excise tax on the sale or use of “taxable substances” by importers. The Superfund chemical taxes previously expired on December 31, ...

Tax Reform - Proskauer Tax Talks

On February 15, 2024, the IRS and Treasury issued a supplemental notice to a prior notice from December 2022, to correct a petition requesting that the ...

ACC Letter to the IRS Re Concerns About Superfund Tax ...

It is unclear how a taxable substance that is 100% made up of a taxable chemical could have a higher tax rate than that chemical. As another ...

Aircraft Club Nov 2023 Air transport excise tax rates for 2024 - PwC

Note: The aviation fuel excise taxes on aviation gasoline of 19.4 cents per gallon and on noncommercial aviation kerosene of 21.9 cents per gallon (including ...

Reinstated Superfund Excise Tax Imposed on Certain Chemical ...

429. Section 80201 of the IIJA reinstates the Superfund excise tax on certain chemical substances under Sections 4661 and 4671 of the Internal ...

News - The Tax Adviser

The IRS also has posted general Superfund FAQs and tax rates for some chemical substances subject to the recently reinstated excise tax. June 27, 2022. Regs ...

IRS Announces Implementation of Increased Hazardous Substance ...

The Superfund tax applies starting January 1, 2023 and imposes a tax of $0.164 per barrel for 2023 (a rate indexed annually for inflation). The announcement ...

How Plastic Resins Are Being Impacted by the Superfund Excise Tax

Substances composed of at least 20% of a taxable chemical listed in the IRC Section 4672 and IRS Notice 2021-66, such as polypropylene, ...

IRS Publishes List of Chemicals Subject to Superfund Tax

The Infrastructure Investment and Jobs Act (IIJA), Public Law 117-58, 135 Stat. 429 (November 15, 2021) reinstated the excise taxes imposed ...

Document Summaries for the week of June 20, 2022 - The Tax Adviser

The IRS issued FAQs regarding the reinstated Sec. 4671(a) Superfund chemical excise tax, discussing what the tax is, how it is computed, and who ...

Bulletin No. 2023–15 April 10, 2023 HIGHLIGHTS OF THIS ISSUE

The Superfund chemical taxes are subject to the deposit rules set forth in § 40.6302(c)-1 of the Excise Tax Procedural Regulations. The IRS ...

Internal Revenue Bulletin: 2023-15

The Superfund chemical taxes are subject to the deposit rules set forth in § 40.6302(c)-1 of the Excise Tax Procedural Regulations. The IRS ...

2024-2025-priority-guidance-plan-initial-version.pdf - IRS

Final regulations under §§4661, 4662, 4671, and 4672 addressing Superfund chemical ... Excise Tax Regulations. 7. Revenue procedure providing the ...

Internal Revenue Bulletin: 2022-29

The Infrastructure Investment and Jobs Act, Public Law 117-58, 135 Stat. 429 (November 15, 2021), reinstates the Superfund excise taxes imposed ...

Bulletin No. 2022–29 July 18, 2022 - IRS

... announcing offi- cial rulings ... Superfund chemical taxes with several modifications, including adjustments to the applicable rates of tax.

Internal Revenue Bulletin: 2022-18

... Excise Tax Procedural Regulations for failure to make required deposits of Superfund chemical taxes if certain requirements are met. INCOME TAX ...

Taxing carried interest in the UK: the new regime announced in the ...

On Wednesday 30 October 2024, the UK government announced changes to the UK taxation of carried interest as part of the 2024 Autumn Budget.

Internal Revenue Bulletin: 2021-52

... announcing official rulings and ... Superfund chemical taxes with several modifications, including to the applicable rates of tax.

Publication 510 (Rev. February 2020) - IRS

fund of that tax. You must make your claim for refund on Form 8849 ... the rate of tax unless the deposit of taxes for each semimonthly ...