December 4, 2024
Petitions Filed to Add Several Chemicals to List of Taxable Substances; Comments Due January 28, 2025
On November 29, 2024, the Internal Revenue Service (IRS) announced that petitions have been filed to add the following chemicals to the list of taxable substances: Di-isobutyl ketone (89 Fed. Reg. 94879): ALTIVIA Ketones & Additives, LLC, an exporter of di-isobutyl ketone, filed the petition. According to the petition, di-isobutyl ketone is an organic compound that is used in solvents; paints and coatings; automobile refinishing; and pharmaceuticals. Di-isobutyl ketone is made from...