27 CFR 24.272 - Payment of tax by electronic fund transfer.

§ 24.272 Payment of tax by electronic fund transfer.
(a) General.
(1) During a calendar year any proprietor who is liable for a gross amount of wine excise tax equal to or exceeding $5 million combining tax liabilities incurred under this part and parts 26 and 27 of this chapter, shall during the succeeding calendar year use a financial institution in making payment by electronic fund transfer (EFT) of wine taxes for that year. A proprietor who is required by this section to make remittance by EFT may not effect payment of wine taxes by cash, check, or money order as described in § 24.271.
(2) For the purposes of this section, the dollar amount of tax liability is defined as the gross tax liability on all taxable withdrawals and importations (including wines brought into the United States from Puerto Rico or the Virgin Islands) during the calendar year, without regard to any drawback, credit, or refund, for all premises from which the activities are conducted by the proprietor.
(3) For the purposes of this section, a proprietor includes a controlled group of corporations, as defined in 26 U.S.C. 5061 (e)(3). Also, the rules for a “controlled group of corporations” apply in a similar fashion to groups which include partnerships and/or sole proprietorships. If one entity maintains more than 50 percent control over a group consisting of corporations and one, or more, partnerships and/or sole proprietorships, all of the members of the controlled group are one taxpayer for the purpose of determining who is required to make remittances by EFT.
(4) A proprietor who is required by this section to make remittances by EFT shall, for each bonded wine premises from which wine is withdrawn upon determination of tax, make a separate EFT remittance and file a separate tax return.
(b) Requirements.
(1) On or before January 10 of each calendar year, except for a proprietor already remitting the tax by EFT, each proprietor who was liable during the previous calendar year for a gross amount of wine excise tax equal to or exceeding $5 million, combining tax liabilities incurred under this part and parts 26 and 27 of this chapter, shall give written notice to the appropriate TTB officer agreeing to make remittances by EFT.
(2) For each return filed in accordance with this subpart, the proprietor shall direct the proprietor's financial institution to make an electronic fund transfer in the amount of the taxpayment to the Treasury Account as provided in paragraph (e) of this section. The request will be made to the financial institution early enough for the transfer of funds to be made to the Treasury Account by no later than the close of business on the last day for filing the return as prescribed in § 24.271. The request will take into account any time limit established by the financial institution.
(3) If the proprietor was liable during the preceding calendar year for less than $5 million in wine excise taxes, combining tax liabilities incurred under this part and parts 26 and 27 of this chapter, the proprietor may choose either to continue remitting the tax as provided in this section or to remit the tax with return as prescribed by § 24.271. Upon filing the first return on which the proprietor chooses to discontinue remittance of the tax by EFT and to begin remittance of the tax with the tax return, the proprietor shall notify the appropriate TTB officer by attaching a written notification to the tax form stating that no wine excise tax is due by EFT because the tax liability during the preceding calendar year was less than $5 million, and that the remittance will be filed with the tax return.
(c) Remittance.
(1) The proprietor shall show on the tax return information about remitting the tax for that return by EFT and shall file the return with TTB in accordance with the instructions on the tax form.
(2) Remittances will be considered as made when the taxpayment by electronic fund transfer is received by the Treasury Account. For purposes of this section, a taxpayment by electronic fund transfer will be considered as received by the Treasury Account when it is paid to a Federal Reserve Bank.
(3) When the proprietor directs the financial institution to effect an electronic fund transfer message as required by paragraph (b) (2) of this section, the transfer data record furnished to the proprietor through normal banking procedures will serve as the record of payment, and will be retained as part of the required records.
(d) Failure to make a taxpayment by EFT. The proprietor is subject to a penalty imposed by 26 U.S.C. 5684, 6651, and 6656, as applicable, for failure to make a taxpayment by EFT on or before the close of business on the prescribed last day for filing.
(e) Procedure. Upon the notification required under paragraph (b)(1) of this section, the appropriate TTB officer will issue to the proprietor a TTB Procedure entitled, Payment of Tax by Electronic Fund Transfer. This publication outlines the procedure a proprietor follows when preparing returns and EFT remittances in accordance with this subpart. The United States Customs Service will provide the proprietor with instructions for preparing EFT remittances for payments to be made to the United States Customs Service for payment of excise tax on imported wine.
(Sec. 201, Pub. L. 85-859, 72 Stat. 1335, as amended (26 U.S.C. 5061))
(Approved by the Office of Management and Budget under control numbers 1512-0467 and 1512-0492)
[T.D. ATF-299, 55 FR 24989, June 19, 1990, as amended by T.D. ATF-409, 64 FR 13683, 13685, Mar. 22, 1999; T.D. ATF-459, 66 FR 38550, July 25, 2001; T.D. ATF-479, 67 FR 30798, May 8, 2002; T.D. TTB-91, 76 FR 5478, Feb. 1, 2011]

Title 27 published on 2014-04-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
U.S. Code: Title 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES
U.S. Code: Title 26 - INTERNAL REVENUE CODE

§ 5001 - Imposition, rate, and attachment of tax

§ 5008 - Abatement, remission, refund, and allowance for loss or destruction of distilled spirits

§ 5041 - Imposition and rate of tax

§ 5042 - Exemption from tax

§ 5044 - Refund of tax on wine

§ 5061 - Method of collecting tax

§ 5062 - Refund and drawback in case of exportation

§ 5121 - Recordkeeping by wholesale dealers

§ 5122 - Recordkeeping by retail dealers

§ 5123 - Preservation and inspection of records, and entry of premises for inspection

§ 5124 - Registration by dealers

§ 5173 - Bonds

§ 5206 - Containers

§ 5214 - Withdrawal of distilled spirits from bonded premises free of tax or without payment of tax

§ 5215 - Return of tax determined distilled spirits to bonded premises

§ 5351 - Bonded wine cellar

§ 5353 - Bonded wine warehouse

§ 5354 - Bond

§ 5356 - Application

§ 5357 - Premises

§ 5361 - Bonded wine cellar operations

§ 5362 - Removals of wine from bonded wine cellars

§ 5364 - Wine imported in bulk

§ 5365 - Segregation of operations

§ 5366 - Supervision

§ 5367 - Records

§ 5368 - Gauging and marking

§ 5369 - Inventories

§ 5370 - Losses

§ 5371 - Insurance coverage, etc.

§ 5372 - Sampling

§ 5373 - Wine spirits

§ 5381 - Natural wine

§ 5382 - Cellar treatment of natural wine

§ 5383 - Amelioration and sweetening limitations for natural grape wines

§ 5384 - Amelioration and sweetening limitations for natural fruit and berry wines

§ 5385 - Specially sweetened natural wines

§ 5386 - Special natural wines

§ 5387 - Agricultural wines

§ 5388 - Designation of wines

§ 5391 - Exemption from distilled spirits taxes

§ 5392 - Definitions

§ 5511 - Establishment and operation

§ 5551 - General provisions relating to bonds

§ 5552 - Installation of meters, tanks, and other apparatus

§ 5661 - Penalty and forfeiture for violation of laws and regulations relating to wine

§ 5662 - Penalty for alteration of wine labels

§ 5684 - Penalties relating to the payment and collection of liquor taxes

§ 6065 - Verification of returns

§ 6091 - Place for filing returns or other documents

§ 6109 - Identifying numbers

§ 6301 - Collection authority

§ 6302 - Mode or time of collection

§ 6311 - Payment of tax by commercially acceptable means

§ 6651 - Failure to file tax return or to pay tax

§ 6676 - Erroneous claim for refund or credit

§ 7302 - Property used in violation of internal revenue laws

§ 7342 - Penalty for refusal to permit entry or examination

§ 7502 - Timely mailing treated as timely filing and paying

§ 7503 - Time for performance of acts where last day falls on Saturday, Sunday, or legal holiday

§ 7606 - Entry of premises for examination of taxable objects

§ 7805 - Rules and regulations

§ 7851 - Applicability of revenue laws

U.S. Code: Title 31 - MONEY AND FINANCE