Categories: U.S. Treasury

Treasury Delays Tax and Reporting Due Dates for Alcohol, Tobacco, Firearms and Ammunition Businesses Hit by COVID-19

WASHINGTON – The Treasury Department is delaying tax payment due dates for wine, beer, distilled spirits, tobacco products, firearms, and ammunition excise taxes, to provide flexibility for businesses that have been negatively affected by COVID-19.

“Many businesses regulated by the Alcohol and Tobacco Tax and Trade Bureau (TTB) have been adversely impacted by the COVID-19,” said Secretary Steven T. Mnuchin. “To assist these businesses during this challenging period, Treasury is postponing several filing and payment due dates for 90 days.”

The postponement of due dates applies to any tax payment or operational report with an original due date falling on or after March 1, 2020, through July 1, 2020. Interest and penalties will not apply when payments are made within 90 days of the original due date. TTB will re-evaluate the terms of this immediate relief as circumstances warrant.

Treasury recognizes that the operations of many of TTB’s regulated industry members may be impacted by COVID-19 in a variety of ways. We will consider applications on a case-by-case basis for the use of alternate methods and procedures that help the affected industry members to resume or continue their operations. Businesses requesting emergency variations from regulatory requirements can do so through this online contact form.

###

IR Press

Share
Published by
IR Press

Recent Posts

U.S. Department of the Treasury’s Federal Insurance Office Launches New Partnership with the National Science Foundation on Terrorism and Catastrophic Cyber Risks

WASHINGTON – This week, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) hosted…

3 days ago

IRS Direct File Pilot Exceeds Usage Goal, Receiving Positive User Ratings and Saving Taxpayers Money

140,803 Taxpayers Filed Their Taxes Directly with the IRS for Free as users claimed more…

3 days ago

Acting Comptroller Issues Statement on the FDIC’s Proposals Related to Change in Bank Control Act

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following statement at the…

3 days ago

Treasury Targets Networks Facilitating Illicit Trade and UAV Transfers on Behalf of Iranian Military

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is…

4 days ago

U.S. Department of the Treasury, IRS Release Final Rules on Provision to Expand Reach of Clean Energy Tax Credits Through President Biden’s Investing in America Agenda

New Inflation Reduction Act Provision Broadens Access and Boosts Return on Clean Energy Tax CreditsWashington,…

4 days ago

Remarks by Under Secretary for Terrorism and Financial Intelligence Brian Nelson at Banking Roundtable in San Juan, Puerto Rico

As Prepared for DeliveryThank you all for coming together today for this important discussion. I am…

4 days ago