COVID – TTB Reporting and Tax Filings – Update #6 – 3/31/20
The Compliance Corner By Mary Beth Williams
TTB announced today that they are postponing the due date for Excise Tax Returns, Excise Tax Payments, Operations Reports, submission of Export Documentation, and submission of Claims by 90 days for all reports/returns/payments due between March 1 and July 1.
For monthly reporters, that means the Operations Report that was due on April 15th will now be due on July 14th, and excise tax returns and the accompanying payment for the period of 3/16-31 that would have been due on April 14th, will now be due on July 13th.
For quarterly reporters, the Operations Report and Excise Tax return (with payment) that were due on April 15 will now be due on July 14th.
That same delay will continue through the 3 month period, and it is unclear how they intend to have you “catch up” after that 90 day period, but we’ll keep you posted on that.
Of course, you still can continue to submit your reports on your regular schedule, and I’d recommend that you continue with your operations reporting on schedule to eliminate the crazy catch up at the end of the postponement period (which just happens to coincide with harvest – fun!), but I’d hold off on submitting your excise tax returns until you’re ready to pay, obviously no later than the new deadline.
More detail can be found at https://www.ttb.gov/industry-circulars/ttb-industry-circulars-2020-2
Mary Beth Williams is the President of Williams Compliance and Consulting Group, LLC, a compliance services and legal consulting provider based in Hanover County, Virginia. For more information, contact Mary Beth at Marybeth@williamscompliance.com or (804) 445-2924.
Last edited Wednesday, April 1, 2020