Overview
Title
Superfund Tax on Chemical Substances; Request To Modify List of Taxable Substances; Notice of Filing for Styrene-Acrylonitrile (a = 0.26, s = 0.74); Correction
Agencies
ELI5 AI
Imagine the government made a mistake about a date when people could ask for some money back because of a tax on a special kind of plastic. They wanted to tell everyone the right date, which is April 1, 2024, so people can ask at the right time.
Summary AI
The Department of the Treasury and the Internal Revenue Service (IRS) issued a notice regarding an error in a previous document about styrene-acrylonitrile, a chemical subject to the Superfund Tax. The original notice, published on April 3, 2025, had an incorrect date for filing refund petitions. The corrected date is now specified as April 1, 2024. The correction aims to ensure accurate processing of refund claims related to this chemical substance.
Abstract
The Department of the Treasury and the IRS published a document in the Federal Register of April 3, 2025, concerning the notice of filing for styrene-acrylonitrile ((C<INF>3</INF>H<INF>3</INF>N)<INF>a</INF>- (C<INF>8</INF>H<INF>8</INF>)<INF>s</INF>; a = 0.26, s = 0.74), public docket number IRS-2025-0031. This document contained an incorrect date for the petition filing date for purposes of refund claims.
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AnalysisAI
General Summary
The document issued by the Department of the Treasury and the Internal Revenue Service (IRS) deals with a correction to an earlier notice published in the Federal Register on April 3, 2025. The original notice pertained to the Superfund Tax on a chemical known as styrene-acrylonitrile. A key aspect of this tax involves the schedule for filing refund petitions. In this latest update, the IRS corrects the filing date for refund petitions related to this chemical, setting it at April 1, 2024. The correction aims to ensure that refund claims tied to this chemical are processed accurately.
Significant Issues or Concerns
One of the prominent issues with this communication is the lack of clarity in addressing the incorrect date initially stated in the document. Only the corrected date is provided, which may lead to confusion for stakeholders who need to reference the original document for detailed information. Additionally, the chemical formula for styrene-acrylonitrile is provided in a technical format that might be challenging for those without a background in chemistry to understand, potentially limiting the accessibility of the document.
The notice also mentions specific sections from internal revenue procedures (Rev. Proc. 2022-26 and Rev. Proc. 2023-20) without offering an explanation or summary. This absence of context could make it difficult for the general public to grasp the implications of these procedures, especially if they're not familiar with the subject matter. Furthermore, while contact information is provided for further inquiries, the guidance does not elaborate on the types of questions that could be addressed or the kind of support available, which might lead to unnecessary or inefficient communications.
Impact on the Public
For the general public, the document highlights procedural details that might not directly affect them unless they are involved in industries related to the chemical in question or other Superfund substances. However, the correction ensures that proper procedures are followed, which is integral for maintaining trust in public administration and ensuring compliance with tax regulations.
Impact on Specific Stakeholders
The correction is particularly important for businesses and organizations dealing with styrene-acrylonitrile or involved in industries related to the chemicals subject to the Superfund Tax. These stakeholders depend on accurate information regarding filing deadlines in order to manage their financial operations effectively, including filing for refunds where applicable. The update clarifies the timeline, reducing the risk of misfiled or late submissions that could potentially result in denied claims or financial penalties.
On the other hand, individuals or entities looking for comprehensive explanations of regulatory changes might find the document lacking in detail or accessibility. Without a clear presentation of both the original error and the implications of the associated revenue procedures, interested parties might struggle with interpreting the document without seeking external expertise. As a result, while the correction itself is a positive measure to ensure accurate proceedings, the communication might fall short in effectively reaching its audience.
Issues
• The document refers to a correction of an incorrect date but does not specify what the incorrect date was, only providing the corrected date. This lack of complete information could lead to confusion for those who refer to the original document.
• The technical chemical formula provided in the document might be difficult to interpret for those not familiar with chemical nomenclature, potentially making it inaccessible to a broader audience.
• The document refers to specific sections of revenue procedures (Rev. Proc. 2022-26 and Rev. Proc. 2023-20) without providing a summary or explanation of these procedures, which can be unclear for readers not already familiar with these documents.
• Contact information is provided, but without details regarding the expected types of inquiries or the scope of assistance that Camille Edwards Bennehoff can provide, potentially leading to inappropriate or misdirected calls.