If you’re like most people, and love paying taxes so much that you wish you could do it more than once a year, well, you are in luck. As our pals at the Alcohol and Tobacco Tax and Trade Bureau (TTB) reminded us, proprietors of distilled spirits plants, bonded wineries, bonded wine cellars and breweries that are liable for not more than $50,000 in distilled spirits, wine or beer excise tax in the previous calendar year, and who reasonably expect to be liable for not more than $50,000 in such taxes in the current year are eligible to file tax returns on a quarterly basis.
We kid about the love of paying taxes, but quarterly returns can be a useful way to more regularly manage your expenses. For those of you looking at quarterly payments, those for the second quarter of 2017 (April 1 – June 30, 2017) are due July 14, 2017.
To avoid potential penalties for filing or paying late, be sure your returns and payments are postmarked by July 14, 2017. If you pay your taxes through Pay.gov, your ACH payment must be completed no later than 4:00 PM Eastern Time July 13, 2017.
Proprietors of distilled spirits plants, bonded wineries, bonded wine cellars and breweries must also file operational reports in support of tax returns. Both monthly and quarterly reports are due no later than July 15, 2017.