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Insights / events

Presentation

Superfund Tax Update – Are You Ready for the July 1 Effective Date?

June 29, 2022

Read Time: 1 min

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 whether the tax can be passed along to customers. The IRS has released initial limited guidance with more on the way.

Douglas Charnas (Washington, DC) is presenting “Superfund Tax Update – Are You Ready for the July 1 Effective Date?” in a webinar for the National Association of Chemical Distributors on June 29, 2022. In his presentation, he will review Superfund Tax obligations, discuss the latest information from the IRS, and answer questions.

The National Association of Chemical Distributors is an international association of chemical distributors and their supply-chain partners. Learn more.

Insights

In the Media

Misunderstood: The Excise Tax No One Likes or Understands — A Conversation with Douglas Charnas and Richard E. Engler, Ph.D.

October 13, 2022

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.

Presentation

Reinstatement of Superfund Tax on Petroleum Products – Impact on Chemical Distributors

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.

In the Media

Superfund Oil Tax May Face Fewer Implementation Hurdles Than Chemical Tax

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.

In the Media

Absent IRS Superfund Tax Guide, Lawyers Look To Withdrawn 1983 Proposal

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.

Podcasts

Podcast: Got Mail? What to Do When the IRS Contacts You

July 14, 2022

Receiving a letter from the IRS is like seeing the flashing lights of a police patrol car in your rear view mirror. As tempting as it might be, trashing the letter is like trying to outrun the patrol car. Not all correspondence from the IRS is bad news, but good or bad, you need to understand how you should respond when contacted by the IRS.

Alert

The Superfund Tax Is Almost Here – Are You Ready?

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.

In the Media

‘Buckle Up’ for PFAS Regulation, Litigation in 2022, Lawyers Say

December 29, 2021

Cleveland attorney and former environmental prosecutor Michael Blumenthal was quoted in a December 29 Bloomberg Law article on upcoming federal moves over the next year to reduce and control “forever chemicals.”

In the Media

EPA Mulling PFAS Regulations Under Superfund, Waste Statutes

January 20, 2021

Attorney Michael Blumenthal (Cleveland) is quoted in an article in Bloomberg Law on EPA’s regulations for PFAS chemicals under Superfund and waste management statutes.

In the Media

Lack of Perchlorate Standard Paves Way for Superfund Slowdown

June 25, 2020

Environmental attorney Michael Blumenthal (Cleveland) was quoted in a Bloomberg Law article on the Environmental Protection Agency (EPA) decision not to set an enforceable limit for perchlorate, a chemical commonly used in rocket fuel. Since entities involved in Superfund cleanups often lean on federal drinking water limits to decide how much of a chemical to remove, aMore