In Revenue Procedure 2022-26, the IRS provides the exclusive procedures for requesting a determination under IRC Section 4672(a)(2) that a substance be added to or removed from the list of taxable substances under IRC Section 4672(a). An importer’s sale or use of these taxable substances is subject to the Superfund excise tax under IRC Section 4671(a). A Tax Alert on the revenue procedure is forthcoming.
Source EY
Latest Posts in "United States"
- Washington enacts sales and use tax and business
- Maryland adopts digital advertising tax regulation clarifying prior guidance
- Indiana Rules Tech Developer Not a Marketplace Facilitator, Not Liable for Auction Sales Tax
- Nevada Proposes Sales Tax Rule Changes for Marketplace Facilitators, Including Virtual Currency Definition
- Wisconsin Expands Sales Tax Exemption for Machinery Used in Qualified and Contract Research
