TAG Tax

IRS Publishes Superfund Tax Rates

The IRS has published Superfund tax rates for 121 taxable substances subject to the tax under section 4671 of the Internal Revenue Code.

A list of taxable substances is included below and accessible through IRS release IR-2022-133 and also in IRS Notice 2021-66.

Highlights from the release:

  • Taxable substances are those substances listed in either section 4672(a)(3) of the Code or Notice 2021-66.
  • Substances may be added or removed from the list of taxable substances at a later date.
  • The rates will be included in the instructions to Form 6627, Environmental Taxes, and under Recent Developments for Form 6627, Environmental Taxes.

Read the entire article.

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