TTB changes to tax return due dates; removal of bond requirement

The TTB amended its regulations to change tax return due dates and remove bond requirements for certain eligible tax payers (T.D. TTB–146).  The amendment authorizes a new annual return period for taxpayers (distilled spirits, wine, and beer) who reasonably expect to be liable for not more than $1,000 in such taxes imposed for the calendar year and who were liable for not more than $1,000 in such taxes in the preceding calendar year.  The amendment also removes the bond requirements for taxpayers who do not reasonably expect to be liable for more than $50,000 in alcohol excise taxes  for the calendar year and were liable for not more than $50,000 in such taxes in  the preceding calendar year. An existing permittee can take advantage of the bond removal amendment by amending its federal permit/registration.

The amendments are effective January 4, 2017.