IRS Expected To Issue Superfund Tax Guide But Unlikely To Delay Deadline

The Internal Revenue Service (IRS) appears unlikely to grant industry groups’ request to delay the July 1 deadline for reinstating the Superfund taxes on chemicals, with tax compliance experts saying the service is expected to eventually issue some guidance ahead of the deadline and is hiring additional staff but not considering an extension. Industry groups including the American Chemistry Council (ACC) and The Fertilizer Institute urged the IRS earlier this month to delay implementation of the reinstated chemical excise taxes...