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In the Media
Member Douglas Charnas (Washington, DC) was interviewed on the All Things Chemical® Podcast on October 13, 2022. He discussed the Superfund Tax, which entities the tax applies to, how to identify taxable chemicals and the difference between taxable chemicals and taxable substances.
Listen to the podcast here.
April 24, 2024
Another taxpayer has been stung by using the wrong version of a private delivery service, FedEx “Express Saver,” resulting in the late filing of an important tax document.
October 2, 2023
If a tax return is sent by regular mail on or before the due date, IT MUST BE RECEIVED BY THE IRS to be treated as timely filed. Proving that it was postmarked on or before the due date is not enough.
March 14, 2023
Member Douglas Charnas (Washington, DC) will join a panel discussion, "Proposed Regulations Are at the White House for Review: Will They Address the Many Open Questions," at the National Association of Chemical Distributors Spring Regulatory Workshop on March 14, 2023. The panel will discuss the open questions, the meetings NACD has had with IRS, and how the IRS may answer the open questions.
November 22, 2022
Of Counsel Michael Blumenthal (Cleveland) was quoted by the International Fiber Journal on November 16, 2022. He discussed his predictions for PFOA and PFOS.
November 3, 2022
McGlinchey tax attorney Douglas Charnas (Washington, DC) will join the National Association of Chemical Distributors (NACD) on Thursday, November 3, 2022, for a webinar to discuss the newly reinstated tax rate and how to determine its impact on your business.
October 27, 2022
Cryptocurrency has gained in popularity and many finance companies have begun offering digital loyalty points and rewards. This sounds appealing until it's time to figure out how and when digital currency may be taxed.
October 20, 2022
The Inflation Reduction Act of 2022 has reinstated the Hazardous Substance Superfund Financing Rate at 16.4 cents per barrel on crude oil and petroleum products. Should chemical distributors care? The general answer is yes. This article provides background on the reinstated rate and how chemical distributors will be affected by its reinstatement, effective January 1. 2023.
August 19, 2022
Congress’ reinstatement of the Superfund tax on crude oil and petroleum-product imports is likely to have a more straightforward implementation process than the related tax on chemicals, Member Douglas Charnas (Washington, DC) told Inside EPA.
July 29, 2022
Member Douglas Charnas (Washington, DC) spoke with Inside EPA about whether it would be "reasonable" to look at a 1983 draft IRS rule in the absence of formal IRS guidance, even though the measure was eventually withdrawn.
June 29, 2022
The Superfund tax takes effect on July 1, 2022, and the first deposits are due to the Internal Revenue Service (IRS) on July 29, 2022. With these impending deadlines, chemical distributors have numerous questions about this tax, including the information needed to figure out their obligations, what must be reported to the IRS, and whetherMore
June 6, 2022
Beginning July 1, 2022, a Federal excise tax, commonly referred to as the “Superfund Tax,” will be imposed on any taxable chemical sold by a manufacturer, producer, or importer. The Superfund Tax also will be imposed on the importer if taxable chemicals are consumed, used, or warehoused in the United States. The Superfund Tax funds the Hazardous Substance Superfund Trust Fund for use in the clean-up of hazardous waste sites.