ACD Press Release

Arlington, VA – Today, National Association of Chemical Distributors (NACD) Vice President of Regulatory Affairs Jennifer Gibson submitted comments to the Internal Revenue Service (IRS) commending the agency for providing additional clarity on the implementation of the Superfund chemical taxes and requesting further guidance for the association’s members.

The submission of these comments comes in response to the IRS’s March 29, 2023 notice of proposed rulemaking on the reinstatement of the Superfund chemical taxes, or REG-105954-22.

In the comments, Gibson highlighted the impact of the reinstated Superfund chemical taxes on the chemical distribution industry and urged the IRS to provide businesses with additional clarity in the implementing regulations, including definitions and examples.

“The wide range of services conducted by NACD members places them in a unique position when it comes to complying with the obligations of the newly reinstated Superfund chemical taxes. While all taxpayers need guidance, the majority of NACD’s members are small multi-generational family-owned businesses. It is imperative for these companies to have as much clarity and guidance as possible to meet their responsibilities under the reinstated law.”

Gibson concluded, “NACD appreciates the opportunity to comment on the IRS’s Superfund chemical taxes proposed rule. We urge the IRS to continue to consult with industry and technical experts as it implements the newly reinstated Superfund tax.”

To read NACD’s full comments submitted to the IRS, click here.

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NACD and its over 400 member and Affiliate companies are vital to the chemical supply chain providing products to over 750,000 end users. NACD members are leaders in health, safety, security, and environmental performance through implementation of Responsible Distribution, established in 1991 as a condition of membership and a third party-verified management practice. For more information on NACD, visit www.acd-chem.com.