As Deadline Looms, Industry Urges IRS To Delay Superfund Tax By 6 Months

Facing a looming July 1 deadline, chemical and other industry groups are urging the Internal Revenue Service (IRS) to delay implementing the Superfund taxes on chemicals that Congress reinstated in the bipartisan infrastructure law by six months, saying the service has not yet provided adequate guidance on a range of issues for taxpayers. In a June 3 letter posted to the IRS’ regulatory docket June 15, the American Chemistry Council (ACC) said Congress has not provided enough time for the...