News:

The TTB has issued Industry Circular 2020-2 which postpones the payment of taxes due to the impact that COVID-19 is having on alcohol beverage industry members nationwide. TTB’s Acting Administrator has determined that (1) any person with a due date for submitting a Federal excise tax payment, return, operational report, or claim on wine, beer, distilled spirits, tobacco products, cigarette papers and tubes, firearms, and ammunition to TTB and (2) any person with a due date for submitting export documentation to TTB, in the period March 1, 2020, through July 1, 2020, is affected by COVID-19 for purposes of the relief described in this Industry Circular. To assist these businesses during this period, the TTB is postponing several filing and payment due dates for 90-days where the original due date falls on or after March 1, 2020, through July 1, 2020. Specifically, the TTB is: Postponing tax payment due dates for wine, beer, distilled spirits, tobacco products, cigarette papers and tubes, firearms, and ammunition excise taxes. Postponing filing due dates for excise tax returns. Postponing filing due dates for submission of operational reports. Postponing filing due dates for claims for credit or refund by producers. Postponing filing due dates for claims by manufacturers of nonbeverage products. Postponing due dates for submission of export documentation. Considering emergency variations from regulatory requirements for affected businesses on a case-by-case basis. Reviewing requests for relief from penalties based on reasonable cause. The TTB will re-evaluate the terms of this immediate relief if circumstances warrant. See…

The Craft Beverage Modernization and Tax Reform Act (CBMTRA) has no doubt benefited those in the alcohol beverage industry. The tax relief under the CBMTRA is set to expire at the 2019. Industry members, including the American Craft Sprits Association (ACSA), are working hard to extend the tax benefits under the CBMTRA indefinitely. If you want to learn about the following: Outlook of the current status of tax legislation and extension efforts; Possible impact to your clients on December 31, 2019; If and how other issues, like the impeachment proceedings, could impact the Congressional agenda. Then please join ACSA’s public policy counsel, James Hyland of the Pennsylvania Avenue Group, on October 16th at 3pm EST for a complimentary webinar.

Posted in ACSA, alcohol beverage law, Craft Spirits, Distribution, TTB | Tagged ACSA, CMBA, Taxes | Comments Off