Bloomberg Law
March 14, 2023, 12:51 PM

Rules on Superfund Excise Tax Clear White House Review

Erin Slowey
Erin Slowey

Proposed rules on an excise tax on certain chemicals companies and importers for substances known to pollute are nearing completion.

The White House Office of Information and Regulatory Affairs finished its review of the Superfund excise tax rules (RIN: 1545-BQ40), according to the OIRA website on Tuesday.

The Superfund excise tax went into effect in July, requiring qualifying taxpayers to make semimonthly deposits. The tax is intended to help fund the cleanup of hazardous sites.

  • After the IRS released its FAQ and list of taxable rates for substances last June, tax professionals still had questions on definitions ...