To amend the Internal Revenue Code of 1986 to remove bond requirements and extend filing periods for certain taxpayers with limited excise tax liability.
Craft Beverage Bond Simplification Act of 2015
This bill allows taxpayers who are liable for not more than $50,000 per year in excise taxes on distilled spirits, wine, or beer to file and pay such taxes quarterly without the requirement to post a bond covering the operations and withdrawals of such distilled spirits, wines, or beer. The bill also allows such a taxpayer who reasonably expects to have a tax liability of not more than $1,000 per year and who was liable for not more than $1,000 in taxes in the preceding calendar year to file and pay such taxes annually rather than quarterly.
Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR H4875)
Became Public Law No: 114-113.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 38.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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