IRS Announces Superfund Chemical Excise Tax Rates

IRS issues Superfund chemical excise tax rates

IR-2022-132, June 24, 2022 — The Internal Revenue Service announced today that it has prescribed tax rates for 121 taxable substances that ...

Superfund chemical excise taxes | Internal Revenue Service

Effective July 1, 2022, excise taxes are reinstated on certain chemicals and imported chemical substances. The applicable rates of tax and related ...

IRS issues Superfund Chemical Excise Taxes FAQs

The Infrastructure Investment and Jobs Act (IIJA) reinstated the excise taxes imposed on certain chemicals and imported chemical substances ...

IRS issues FAQs on the reinstated Superfund chemical excise tax to ...

The excise taxes imposed on certain chemicals and imported chemical substances were reinstated beginning on July 1, 2022, under the ...

IRS announces Superfund chemical excise tax rates - KPMG LLP

IRS announces Superfund chemical excise tax rates. The IRS today announced the prescribed tax rates for 121 taxable substances that are ...

IRS Announces Superfund Chemical Excise Tax Rates

The IRS has announced (IR-2022-132) the prescribed tax rates for 121 taxable substances that are subject to the Superfund chemical excise ...

IRS Proposes Superfund Chemical Excise Tax Regulations

On March 29, 2023, the Internal Revenue Service (IRS) published proposed regulations regarding the reinstated Superfund chemical excise taxes.

Superfund Tax on Chemical Substances; Modification to List of ...

The conversion factor for the methane used in the ( print page 47239) production of polyoxymethylene is 0.53. The tax rate is calculated by ...

Superfund Chemical Excise Taxes: What companies need to know

How are the tax rates calculated? · Use the default rates published by IRS. · Self-assess the rate based on 10% of the appraisal value of the ...

Superfund excise tax FAQs and tax rates released by the IRS

There are two separate Superfund chemical excise taxes: a tax imposed on the sale or use by the manufacturer or importer of “taxable chemicals” ...

Superfund Tax on Chemicals: What You Need to Know to Comply

On June 24, 2022, the IRS announced that it prescribed tax rates for 121 of the 151 taxable substances. The rates range from $1.49 to $23.65 per ...

Recent Updates from the IRS and Treasury on the Superfund ...

The Superfund Chemical Tax, which went into effect on July 1, 2022, reinstated an excise tax imposed on manufacturers, producers, and importers ...

News Releases for June 2022 | Internal Revenue Service

IRS issues Superfund chemical excise tax rates ... IR-2022-132, June 24, 2022 — The Internal Revenue Service announced today that it has prescribed tax rates for ...

IRS provides FAQs on the reinstated Superfund chemical excise tax

In a separate release, the IRS today announced the prescribed tax rates for 121 taxable substances that are subject to the Superfund ...

Superfund Excise Taxes on Chemicals and Substances

The Superfund Tax rate for chemicals range from $048 per ton for nitric acid to $9.74 per ton for Benzene. The list of 42 chemicals and their respective excise ...

IRS Issues FAQs on Superfund Excise Tax on Certain Chemical ...

The Superfund chemical taxes will be reported on Form 720, Quarterly Federal Excise Tax Return, and Form 6627, Environmental Taxes. The excise ...

Return of Superfund Excise Taxes Will Burden US Companies ...

The IIJA reinstates the two taxes with several modifications. First, the Section 4661 chemical excise tax rate was doubled from its prior ...

IRS Issues Superfund Chemical Excise Tax Rates and FAQs | News

The excise taxes imposed on certain chemicals and imported chemical substances were reinstated beginning on July 1, 2022, under the ...

White House Reviewing Proposed Regulations on Reinstated ...

Two separate Superfund chemical excise taxes were resurrected in 2021: a tax on the sale or use of "taxable chemicals" under Section 4661 of ...

IRS sets procedure for Superfund list changes

A dedicated revenue stream funding it was enacted via an excise tax on certain chemicals and substances, beginning in the mid-1980s and expiring ...