🍷Refund Procedures for Craft Beverage Modernization Act Explained
The Alcohol and Tobacco Tax and Trade Bureau (TTB) is making permanent, with two changes, temporary regulations published in the Federal Register on September 23, 2022, relating to reduced excise tax rates and tax credits for imported distilled spirits, wines, and beer. These regulatory amendments implement changes made to the Internal Revenue Code by the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which amended the Craft Beverage Modernization Act provisions of the Tax Cuts and Jobs Act of 2017. This rule finalizes the procedures for industry members to claim limited reduced tax rates and tax credits for imported alcohol products that are entered for consumption in the United States. Specifically, this rule finalizes provisions in a temporary rule that outlines the process for foreign producers to assign reduced tax rates and tax credits to importers, and for importers to accept and apply the assigned tax benefits to imported products. This final rule clarifies that only the foreign producer who produces the product may assign the applicable tax benefits on distilled spirits, wine, or beer to U.S. importers, and extends by one calendar quarter the timeframe for those foreign producers to submit these assignments to TTB.
Learn More🚛IRS Notice on Heavy Highway Vehicle Use Tax Return Information Collection
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
Learn More📜IRS Comment Request on Revenue Procedure 2001-29 for Businesses
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
Learn More💼IRS Notice on Information Collection for Transition Tax Under Section 965
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
Learn More💼Proposed Regulations on Employee Benefit Tax Exclusions
This document contains proposed regulations that would provide guidance regarding an employer's line or lines of business for purposes of determining the exclusion from gross income for no-additional-cost services or qualified employee discounts provided to employees.
Learn More🏡IRS Seeks Comments on Real Estate Transactions Information Collection
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
Learn More📉Withdrawal of Built-In Gain and Loss Regulations
This document withdraws two notices of proposed rulemaking containing proposed regulations on the treatment of built-in items of income, gain, deduction, and loss taken into account by a loss corporation after an ownership change. The proposed regulations would have affected corporations that experience an ownership change under section 382(h) of the Internal Revenue Code (Code).
Learn More🏢IRS Notice on Form 8822
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
Learn More📝IRS Notice on Form 5310-A Information Collection Request
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Form 5310-A, "Notice of Plan Merger or Consolidation, Spinoff, or Transfer of Plan Assets or Liabilities, Notice of Qualified Separate Lines of Business".
Learn More⛪IRS Request for Comments on Church Plan Clarifications
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning reporting requirements for notice regarding certain church plan clarifications under section 336 of the PATH Act.
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