RP-2023-20 and N-2023-28, Superfund excise tax relief

Revenue Procedure 2023-20 ? modifies Rev. Proc. 2022-26 to clarify that the date on which a taxable substance is added to the Secretary?s list of taxable substances (List) for purposes of refund claims under section 4662(e) is the first day of the calendar quarter in which the petition is filed (for an interested person) or the day on which the petition is deemed filed (for an importer or exporter).?? Section 4672(a)(2) of the Code allows an importer or exporter of any chemical substance to request a determination whether such substance should be listed as a taxable substance on the list or be removed from the list.? Rev. Proc. 2022-26, 2022-29 I.R.B. 90, provides the procedures for importers, exporters, and interested persons to request a determination that a substance be added to or removed from the list.?

Notice 2023-28?extends the relief provided section 3(a) of Notice 2022-15 through the end of 2023, and the relief provided by section 3(b) of Notice 2022-15 through June 30, 2024.? The Infrastructure Investment and Jobs Act reinstated the excise taxes imposed by sections 4661 and 4671 of the Code (the Superfund chemical taxes), effective July 1, 2022.?? The Superfund chemical taxes are subject to the deposit rules set forth in ? 40.6302(c)-1 of the Excise Tax Procedural Regulations.? The IRS issued Notice 2022-15, 2022-18 I.R.B. 1043, which provides in section 3(a) temporary rules for the third and fourth calendar quarters of 2022, and the first calendar quarter of 2023, regarding the failure to deposit penalty imposed by section 6656 as that penalty relates to the Superfund chemical taxes.? Notice 2022-15 also provides in section 3(b) that during the first, second, and third calendar quarters of 2023, the IRS will not withdraw the taxpayer?s right to use the deposit safe harbor rules of ? 40.6302(c)-1(b)(2) if certain requirements are met.?

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