The Internal Revenue Service (IRS) announced on August 14, 2024, a correction to the stoichiometric material consumption equation in the notice of filing for the nylon 6 petition that was published in the February 22, 2024, Federal Register. 89 Fed. Reg. 66175. According to the notice, after the comment period for the original notice closed, an error was discovered in the stoichiometric material consumption equation for nylon 6, and the petitioner subsequently provided a corrected petition. According to the IRS, the other petition information is unchanged from the original notice of filing for nylon 6. The IRS notes that the supplemental notice of filing requests comments on the corrected petition and is not a determination that the list of taxable substances is modified. Written comments and requests for a public hearing are due October 15, 2024.
IRS Announces Correction to Petition to Add Nylon 6 to List of Chemical Substances Subject to Superfund Excise Tax
Friday, August 16, 2024