Insights & Resources

Taxpayers subject to the Superfund Excise Tax are reminded that payments should be deposited semi-monthly unless the net liability is less than $2,500 for the quarter.

Senators Kirsten Gillibrand and Cynthia Lummis proposed the Responsible Financial Innovation Act to create a comprehensive regulatory framework for digital assets.

Learn about which states have announced motor fuel tax rate changes effective July 1, 2022, and check back as we will continue to monitor and make updates as needed.

In recent months, a number of states have enacted legislation to temporarily suspend the motor fuels tax. Weaver will monitor these actions and update this post regularly.

Taxpayers will be relieved of underpayment penalties under IRC Section 6656 for failing to make required deposits of the Superfund Tax as issued in Notice 2022-15.

The Fifth Circuit Court of Appeals and the U.S. Court of Federal Claims held that the blends of butane and gasoline would not be eligible for the alternative fuel mixture credit.

Taxpayers who are required to obtain a "G" registration under the reinstated Superfund Tax are impacted by recent IRS guidance on registration for certain Form 637.

On March 24, 2022, the Fifth Circuit Court of Appeals found the federal oil spill tax under IRC Section 4611(b) unconstitutional when imposed on exports of crude oil from the United States.

Qualified small to medium-sized businesses that experienced a significant decline in revenues during the COVID-19 pandemic or were forced to partially or fully shut down due to a government order can still claim a refundable payroll tax credit to help soften the blow.

The Internal Revenue Services (IRS) issued an initial list of 101 chemicals subject to the recently reinstated Superfund excise tax under IRC Section 4661 and Section 4671.

On November 19, 2021, the U.S. House of Representatives passed the “Build Back Better Act” (BBBA), which includes an estimated $1.7 trillion in spending and an estimated $1.5 trillion in tax increases over 10 years.

The Infrastructure Investment and Jobs Act, which President Biden signed into law on November 15, 2021, reinstates Superfund excise taxes on the sale and import of certain chemicals as part of the law’s revenue raising provisions.