KPMG report: IRS excise tax registration renewal

KPMG report: IRS excise tax registration renewal

The IRS has begun an initiative to review existing excise tax registrations for continued compliance and to confirm that registrants remain engaged in the activity for which they are registered.

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A KPMG report cautions taxpayers registered by the IRS for excise tax activities—such as dealing in fuel, claiming an alternative fuel credit, or making tax free sales of items (including medical devices)—to confirm that their ongoing responsibilities as registrants have been satisfied, thus avoiding the risk of IRS revocation of their registration.

 

Read a July 2015 report [PDF 152 KB] prepared by KPMG LLP: What’s News in Tax: Pitfalls of an IRS Excise Tax Registration Review

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