Rev. Proc. 2022-26 - Superfund; Imported Substances; Procedures for Filing a Petition
New collection (Request for a new OMB Control Number)
No
Emergency
06/24/2022
Approved with change
06/24/2022
06/21/2022
In response to the emergency request memorandum submitted by the Treasury, OIRA is approving Treasury's request for emergency approval for a period of six months. The emergency memo was updated during OMB's review. Prior to the expiration of this package in six months, Treasury shall undertake standard PRA notice and comment procedures.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
12/31/2022
6 Months From Approved
1,000
0
0
75,000
0
0
0
0
0
Section 4672(a)(2) of the Code allows importers and exporters to petition the Secretary of the Treasury to modify the list of chemical substances subject to the section 4671 excise tax. The collection of information in this revenue procedure is necessary so that the Secretary of the Treasury has sufficient information to process these determination requests. Petitioners are importers or exporters of chemical substances, and interested parties.
The Department of the Treasury and the Internal Revenue Service (IRS) are requesting a new OMB Control Number under emergency procedures in connection with provisions of section 80201 of the Infrastructure Investment and Jobs Act (Public Law 117-58, 135 Stat. 429), which reinstates, with modifications, the section 4661 excise tax on chemicals and the section 4671 excise tax on imported chemical substances, effective July 1, 2022.
Section 4671 imposes an excise tax on the sale or use of an imported chemical substance (taxable substance). Section 4672(a)(2) permits importers and exporters of chemical substances to request a determination of whether a particular substance should be added to or removed from the list of taxable substances in section 4672(a)(3). If an importer or exporter of any substance makes such request, the Secretary of the Treasury must make such determination within 180 days after the request was filed. Guidance is needed before July 1, 2022, to create a process for such determinations. This revenue procedure creates that process.
The IRS plans to publish Revenue Procedure 2022-26 before July 1, 2022, so that importers and exporters of chemical substances can submit requests for determination to add a chemical substance to or remove a chemical substance from the list of taxable substances in section 4672(a)(3) by the time the section 4671 tax goes into effect. If the revenue procedure is not published before July 1, 2022, taxpayers may not be able to make certain claims for credit or refund to which they would otherwise be entitled. Therefore, the IRS requests a new OMB control number by June 17, 2022. Given the inability to seek public comment during such a short timeframe, IRS also respectfully requests a waiver from the requirement to publish a notice in the Federal Register seeking public comment during the period of Office of Management and Budget review. However, public comment will be solicited in conjunction with the subsequent extension of the approval to collect this information.
The collection of information in this Revenue Procedure is needed prior to the expiration of time periods established under normal processing times. Section 80201 of the Infrastructure Investment and Jobs Act (IIJA), Public Law 117-58, 135 Stat. 429 (November 21, 2021) reinstates, effective
July 1, 2022, the excise taxes imposed on certain chemical substances by sections 4661 and 4671 of the Internal Revenue Code and modifies the applicable rates of tax and other provisions related to these taxes. The collection of information is essential to the mission of the Internal Revenue Service.
The Internal Revenue Service cannot reasonably comply with the normal clearance procedures because taxpayers need to be able to request determinations using the process in this revenue procedure by July 1, 2022, or taxpayers may not be able to make certain claims for credit or refund to which they would otherwise be entitled.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Superfund; Imported Substances; Procedures for Filing a Petition