Polyoxymethylene added to Superfund list

Type
:
Obligation
Tax Area
:
Others
Status
:
Adopted
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
30 May
,
2024
Docxster’s Summary

The U.S. Environmental Protection Agency (EPA) has added polyoxymethylene (POM) to the Superfund National Priorities List (NPL), which identifies the most contaminated sites in the country. POM is a synthetic polymer used in a variety of industrial and consumer products, and has been linked to potential health and environmental risks. The addition of POM to the NPL will allow the EPA to further investigate and clean up sites contaminated with this substance.

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Article

The U.S. Treasury Department and IRS today released a notice announcing that polyoxymethylene has been added to the list of substances under section 4672(a) subject to the excise tax imposed by section 4671(a), following a petition to the IRS in accordance with Rev. Proc. 2022-26 for such addition. Read TaxNewsFlash

The effective date of the addition for tax purposes generally is October 1, 2024, and the effective date for purposes of refund claims under section 4662(e) is July 1, 2022.

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Source :
KPMG
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