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Excise taxes have been imposed on U.S. taxpayers since the inception of the country. Existing excise taxes on articles such as fuel, alcohol, tobacco, and heavy vehicles were enacted in the early to mid-1900s. Today there are over 30 federal excise taxes administered by the Internal Revenue Service (IRS) and the Alcohol and Tobacco Tax and Trade Bureau (TTB). Each tax has its own rules, complex regulations and procedures. States and local governments also impose excise tax on a wide range of articles and services.
The Far Reach of Excise Tax
Excise taxes affect many middle market companies in a wide range of industries including:
- Energy and environmental
- Food and beverage
- Healthcare and life sciences
- Retail dealers and sellers
- Building and construction
- Aerospace and defense
- Banking, insurance, and financial products
RSM’s full service excise tax practice covers a complete range of excise taxes and credits, including:
- Manufacturers taxes (e.g., petroleum products and motor fuel; tires; sporting goods; firearms)
- Retail taxes (e.g., alternative fuels; ethanol; biodiesel; heavy trucks and trailers)
- Air transportation taxes for passengers and property
- Environmental taxes (e.g., ozone-depleting chemicals; oil spill; superfund)
- Heavy vehicle highway use tax
- Foreign insurance excise tax
- Wagering excise tax
- Affordable Care Act provisions (e.g., branded prescription drug fee; tanning excise tax; PCORI fee)
- Communications excise taxes
- Fuel credits (e.g., taxable fuel; alcohol; biodiesel; alternative fuel)
- Excise taxes administered by the Alcohol and Tobacco Tax and Trade Bureau (e.g., spirits; wine; beer; tobacco; firearms; ammunition)
RSM’s excise tax practice advises clients on the complexities of excise taxes administered by the IRS, TTB and state and local governments. Our services include:
- Controversy disputes and representation
- Planning and refund opportunities
- Due diligence
- Compliance and registrations
- CPE trainings
- Tax system implementations
RSM’s excise tax practice is led by Washington National Tax professionals with more than 20 years of government and private sector experience. Our goal is to be your first choice advisor by bringing our experts to team with you to provide a comprehensive and holistic approach to your tax matters. We will evaluate opportunities and areas of risk to provide you with a clear assessment based on your particular situation.
IRS waives penalty for using dyed diesel fuel on highways in several Louisiana parishes through Sept. 30, 2021.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida in Pennsylvania.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida in Mississippi.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida in New York and New Jersey.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida. IRS provides additional relief.
Seventh Circuit Court of Appeals rules taxpayer’s refurbished highway tractors meet safe harbor restoration rule under section 4052(f).
Appeals court affirmed U.S. Court of International Trade decision allowing substitution drawback of certain excise taxes and customs duties.
IRS issues reminder for Taxpayers who own heavy vehicles weighing more than 55,000 lbs to file Highway Use Tax return by Aug. 31, 2021.
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Excise Tax Consulting
Washington National Tax
Area of Focus: Excise Tax Consulting