Rev. Proc. 60-10
Rev. Proc. 60-10; 1960-1 C.B. 888
- LanguageEnglish
- Tax Analysts Electronic Citationnot available
Obsoleted by Rev. Rul. 72-247
SECTION 1. PURPOSE.
The purpose of this Revenue Procedure is to inform proprietors of distilled spirits plants who will be required to maintain warehouse summary accounts beginning July 1, 1960, that they may examine similar accounts now maintained by the internal Revenue officer assigned to the plant.
SEC. 2. BACKGROUND.
The internal Revenue officer in charge at an internal Revenue bonded warehouse is required by section 225.1100 of the Warehousing of Distilled Spirits Regulations to keep a summary account on Form 1621, Summary of Deposits and Withdrawals at Bonded Warehouse, of the spirits entered into, withdrawn from, and remaining in the warehouse. Proposed sections of the Distilled Spirits Plants Regulations, planned for reissuance on July 1, 1960, require a proprietor of a bonded warehouse to keep such warehouse summary accounts beginning July 1, 1960.
SEC. 3. CONCLUSION.
Some warehouse proprietors do not presently maintain records from which they can conveniently compile the information necessary for setting up the warehouse summary accounts on Form 1621. For this reason Assistant Regional Commissioners, Alcohol and Tobacco Tax, may, on request of a proprietor of a bonded warehouse, permit such proprietor to examine, in the Government office, the warehouse accounts now maintained by the assigned officer, to assist him in setting up accurate records which are in agreement with those which have been maintained by the Government.
SEC. 4. INQUIRIES.
Inquiries in regard to this Revenue Procedure should refer to its number and be addressed to the office of the appropriate Assistant Regional Commissioner, Alcohol and Tobacco Tax.
- LanguageEnglish
- Tax Analysts Electronic Citationnot available