Agreed upon procedures : Black Lung Disability Trust Fund excise taxes.
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Agreed upon procedures : Black Lung Disability Trust Fund excise taxes. by United States. General Accounting Office. Accounting and Information Management Division

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Published by The Office in Washington, D.C. (P.O. Box 37050, Washington, D.C. 20013) .
Written in English

Subjects:

  • Lungs -- Dust diseases -- United States,
  • People with disabilities -- United States -- Finance,
  • Trusts and trustees -- United States,
  • Excise tax -- United States

Book details:

Edition Notes

Other titlesBlack Lung Disability Trust Fund excise taxes.
The Physical Object
Pagination20, [2] p. ;
Number of Pages20
ID Numbers
Open LibraryOL17839030M
OCLC/WorldCa41125446

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Black Lung Disability Trust Fund excise taxes: Responsibility: United States General Accounting Office, Accounting and Information Management Division. Correspondence issued by the General Accounting Office with an abstract that begins "Pursuant to a legislative requirement, GAO reviewed whether the net excise tax revenue distributed to the Black Lung Disability Trust Fund (BLDTF) for the fiscal year (FY) ended Septem , is supported by the underlying : United States. General Accounting Office. finances the Black Lung Disability Trust Fund. An estimated $14, million in coal excise tax revenues have gone into the fund through FY The fund compensates miners (as well as their survivors and dependents) afflicted with pneumoconiosis, or “black lung disease,” pays their medical costs, and finances the costs of administering the program. Under IRC Section , Transfer of Amounts, excise taxes dedicated to the trust funds must be transferred by the Bureau of the Fiscal Service, at least monthly, based on estimates by the Office of Tax Analysis, from the general fund to the trust fund.

Section 8. Excise Taxes. Excise Taxes Manual Transmittal. Aug Purpose Black Lung Disability Trust Fund. This section contains procedures for working excise tax issues centralized at the Cincinnati Campus. () Form , Quarterly Federal Excise Tax . unapproved claims. The Black Lung Benefits Revenue Act of (Public Law ) created the Black Lung Disability Trust Fund (Trust Fund), financed by an excise tax on coal mined and sold in the United States. The law authorized the Trust Fund to pay benefits in cases where no responsible. “Black Lung Disability Trust Fund” means the “Black Lung Disability Trust Fund,” as such term is defined in 26 U.S.C. § (a)(1). “Black Lung Excise Taxes” means, collectively, any federal excise Taxes imposed pursuant to 26 U.S.C. § , as it may be amended. The coal excise tax rates are to revert to pre rates (50 cents/25 cents per ton; two-percent ceiling) on the earlier of (1) January 1, , or (2) the first January 1 as of which all principal and interest owed to the Treasury by the Black Lung Disability Trust Fund (the "Trust Fund") have been paid.

In order to maintain revenues for the Black Lung Disability Trust Fund, the President’s FY budget proposes to repeal the scheduled reduction in tax rates for coal sales after Decem Structure of the Tax The BLET is imposed on the producer, and the taxable event is the sale of the coal. Explanation: The Black Lung Trust Fund has a large and mounting debt dating back to the Trust Fund's early years, when excise taxes were inadequate to fund . Form Return of Excise Tax on Excess Contributions to Black Lung Benefit Trust Under Section and Computation of Section Deduction; Form Distributable Benefits From Employee Pension Benefit Plans; Form Claim for Refund of Income Tax Return Preparer and Promoter Penalties; Form Gas Guzzler Tax; Form At-Risk. Full text of "Description of possible options to increase revenues" See other formats.