The U.S. Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau (TTB) has updated a set of “frequently asked questions” (FAQs) regarding the destruction of un-merchantable beer and recovery of excise taxes paid. The FAQs provide guidance in response to the coronavirus (COVID-19) pandemic.
Originally, TTB waived a requirement that brewers first submit to TTB a “Notice of Intent” regarding permission to destroy tax-paid beer at off-brewery premises—thereby alleviating the 12-day waiting period as required under TTB regulations. The original waiver was through July 1, 2020. Read TaxNewsFlash
The updated FAQs (June 23, 2020) announce the waiver is further extended through September 1, 2020.
Read TTB’s beer-destruction FAQs for additional details.
For more information, contact a tax professional with KPMG’s Excise Tax Practice group:
Taylor Cortright | +1 (202) 533 6188 | firstname.lastname@example.org
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