IRS Asks Feedback on Whiskey Wholesalers' Tax Credit Form 8906
Published Date: 1/28/2025
Notice
Summary
The IRS wants your thoughts on Form 8906, which helps certain businesses get a tax credit for excise taxes on distilled spirits. This form mostly affects wholesalers and some tax-exempt groups, with no changes planned but a cleanup to avoid paperwork overlap. If you want to weigh in, send your comments by March 31, 2025—this keeps the process smooth and fair without extra costs.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Distilled Spirits Tax Credit Form
Form 8906 lets eligible wholesalers and persons subject to IRC section 5055 compute an income tax credit for the average cost of carrying excise tax on bottled distilled spirits. The form implements IRC section 5011(a) and is associated with OMB Control No. 1545-1982.
Paperwork Burden for Form 8906 Filers
The IRS estimates 5 responses for Form 8906, with an estimated time per respondent of 1 hour and 52 minutes and a total annual burden of 9 hours. The agency is soliciting comments on the collection and requests written comments by March 31, 2025.
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