In the 10 days before the July 1 effective date of the reinstated Superfund Chemical Excise Taxes (SCET), the IRS issued informal guidance in the form of frequently asked questions (FAQs) and a rate table for taxable substances. The IRS followed with a revenue procedure setting forth the procedures for requesting a determination that a substance should be added to or removed from the list of taxable substances under the SCET, among other related matters.
Source PwC
