ADVERTISEMENT
IRS Expected to Extend Comment Period for Proposed Off-Road Machinery Tax08-01-02 | News
img
 
WASHINGTON D.C. - The IRS has proposed taxing off-road equipment used in construction. Off-road equipment (including mobile cranes, concrete pumpers and other machinery used in construction) has been exempt from both excise and fuel taxes because it is not considered to be a highway vehicle. However, the IRS in June proposed a rule that would end this exemption for any non-farm equipment that could be used on roads, whether or not its primary use is off-road. Senator Kit Bond (R-MO), the Ranking Minority Member of the Senate Small Business Committee, wrote to the IRS asking that the September 4 deadline for industry comments on this proposal be delayed for 90 days. Additionally, Bond requested a public hearing. An extension for comments was granted, as were requests for a public hearing. Any comments and requests for a public hearing must be received by December 4, 2002. Taxpayers may contact the IRS directly by visiting the IRS Internet website at https://www.irs.gov/regs.
img