IRS sets procedure for Superfund list changes

The IRS also last week posted frequently asked questions (FAQs) about the Superfund taxes on its website. In a news release Friday (IR-2022-131) ...

Superfund chemical excise taxes | Internal Revenue Service

How to report · When to pay · How to pay · Notice of proposed rulemaking · List of taxable substances and tax rates · Requesting changes to list of taxable ...

IRS issues Superfund Chemical Excise Taxes FAQs

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

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

Recent Updates from the IRS and Treasury on the Superfund Chemical Tax ... On February 15, 2024, the IRS and Treasury issued a supplemental notice ...

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

... procedures set forth in Rev. Proc. 2022-26, as modified by ... IRS do not anticipate updating this document to reflect any such changes.

Superfund Chemical Excise Taxes: What companies need to know

A comprehensive list with chemicals and substances can be found under Section 4661 and Section 4671 of the Internal Revenue Code, though the IRS ...

IRS clarifies key rules for Superfund chemical taxes - Grant Thornton

117-58) effective for sales and uses on or after July 1, 2022. Section 4661 imposes tax at various rates per ton on 42 “taxable chemicals” sold ...

Superfund Chemical Taxes - Federal Register

The Superfund chemical taxes previously expired on December 31, 1995, but were reinstated with certain modifications, effective July 1, 2022, ...

It's Back – The Superfund Tax - Ryan LLC

The IRS issued prescribed tax rates for 121 taxable substances in IRS release IR-2022-132 and set the procedure for Superfund list changes in Rev. Proc.

IRS Describes Procedures for Modifying List of Taxable Substances

The IRS has released (Rev. Proc. 2022-26) the exclusive procedures for requesting a determination under section 4672(a)(2) that a substance be added to or ...

IRS issues new guidance ahead of July 1, 2022 effective date for ...

In Revenue Procedure 2022-26 (released June 28, 2022), the IRS provided detailed procedures for requesting a determination to add or remove ...

Superfund Excise Tax | Deloitte US

How to prepare now for 2022 excise tax changes ... As part of the Infrastructure Investment and Jobs Act signed into law November 15, 2021, the Superfund Excise ...

IRS Proposes Regulations Regarding Superfund Tax on Chemicals

On March 29, 2023, the Internal Revenue Service (IRS) published a notice of proposed rulemaking (NPRM) relating to the Superfund excise taxes ...

Procedures for Change to Taxable-Substance List Issued

The IRS has issued procedures for additions to and removals from the list of substances subject to Superfund chemical taxes.

Treasury guidance on Superfund excise tax - RSM US

The IRS and US Treasury have issued guidance on the application of the reinstated Superfund Excise taxes imposed on certain chemicals and imported substances.

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

... Superfund chemical excise tax ... That number will likely change as substances are added to or removed from the list of taxable substances.

The Superfund Tax Is Here—Are You Ready?

The monies are used to clean up hazardous waste sites. The Internal Revenue Code and an IRS notice list chemicals, both domestic and imported, ...

IRS Practice & Procedure - The Tax Adviser

IRS sets procedure for Superfund list changes. The IRS also has posted general Superfund FAQs and tax rates for some chemical substances subject to the ...

Notice 2021-66 - IRS

Superfund; Initial List of Taxable Substances; Registration; Procedural Rules; Request ... to make other changes that may be necessary.

26 CFR 601.602: Tax forms and instructions. - IRS

This revenue procedure sets forth inflation-adjusted items for 2024 for various Code provisions as in effect on November 9, 2023. The inflation adjusted ...