Last edited by Karamar
Monday, May 11, 2020 | History

4 edition of Agreed upon procedures : Black Lung Disability Trust Fund excise taxes. found in the catalog.

Agreed upon procedures : Black Lung Disability Trust Fund excise taxes.

United States. General Accounting Office. Accounting and Information Management Division

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

  • 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

    The Trust Fund, financed by an excise tax on each ton of coal mined and sold after Ma , was to pay the continuing administrative costs of the black lung benefits program, cover the federal government's existing Part C liability for benefits attributable to mine operators who could not pay or be found, 15 and "assume responsibility.   The Bailout Plan provides the following transportation and domestic fuel security provisions: (i) includes cellulosic biofuel within the definition of biomass ethanol plant property for purposes of bonus depreciation; (ii) extends through income and excise tax credits (and increases the rates of such credits) for biodiesel and renewable.

    of the Black Lung Disability Trust Fund Ensuring the Equitable Release of Economic Data Disability Trust Fund, and the Excise Tax on Coal: Back- Section 3(a)(3) of IPERA The second was an agreed-upon procedures engagement to assist the OIG in. The Trust Fund, financed by an excise tax on each ton of coal mined and sold after Ma , was to pay the continuing administrative costs of the black lung benefits program, cover the federal government's existing Part C liability for benefits attributable to mine operators who could not pay or be found,15 and "assume responsibility for.

    H. Rept. - TAXPAYER CERTAINTY AND DISASTER TAX RELIEF ACT OF th Congress (). Historically, less than 7% of the miners currently seeking federal black lung benefits are awarded these benefits. The trust fund is funded by an excise tax on U.S. production of up to $ per ton for deep-mined coal and up to $ per ton for surface-mined coal, neither amount to .


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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 Download PDF EPUB FB2

Excise tax revenue distributed to the Black Lung Disability Trust Fund (BLDTF) for the fiscal year ended Septemis supported by the underlying records. As agreed upon with your office, we evaluated fiscal year BLDTF activity. This engagement to apply agreed-upon procedures was performed in accordance.

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 Septemis supported by the underlying noted that: (1) this engagement to apply agreed-upon procedures was performed in accordance with standards established by the American Institute of.

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 Septemis 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 SectionTransfer 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.

() FormQuarterly 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. Black Lung Benefit Trusts: Funded by coal mine operators to satisfy their liability for disability or death due to black lung diseases: No Form 6: BL: No 4: (c)(22) Withdrawal Liability Payment Fund: To provide funds to meet the liability of employers withdrawing from a multi-employer pension fund: No Form 6: or EZ 8: No 5: (c)(23).

resolve old 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 mine operator could be identified.

H.R. (95 th): An Act to impose an excise tax on the sale of coal by the producer, to establish a Black Lung Disability Trust Fund, and for other purposes. React to this bill with an emoji Save your opinion on this bill on a six-point scale from strongly oppose to strongly support.

It's Difficult to Keep it All Straight Keeping track of the constantly changing tax code is a daunting task.

New Tax Law, Revenue Rulings, Filing Requirements, Phase-Outs, Dependency Rules; it's a lot to remember. Our authors take this massive amount of information and place it in a fast-answer format that makes finding your answer easy. Solvency for the Black Lung Disability Trust Fund.

The bill would enact the President's FY proposal to bring the Black Lung Disability Trust Fund out of debt. Under current law, an excise tax is imposed on coal at a rate of $ per ton for coal from underground mines and $ per ton for coal from surface mines (the aggregate tax per.

–, §(b)(3), substituted "imposed a tax" for "imposed a tax of 9 cents a gallon" in introductory provisions and inserted at end "The rate of the tax imposed by this paragraph shall be the sum of the Highway Trust Fund financing rate and the deficit reduction rate in effect under section at the time of such sale or use.".

PUBLIC LAW 9 5 - 2 2 7 — F E B. 10, 92 STAT. 11 Public Law 95th Congress An Act To impose an excise tax on the sale of coal by the producer, to establish a Black Feb.

10, Lung Disability Trust Fund, and for other purposes. Instructions for Department of the Treasury Internal Revenue Service Form BL (Rev. December ) Information and Initial Excise Tax Return for Black Lung Benefit Trusts and Certain Related Persons Section references are to the Internal Revenue Code unless When and .The compensation of Part C came from the Black Lung Disability Trust Fund, which is from the excise tax on sold coal, and is paid by the coal operator.

Similarly, in Australia, some funds coving compensation come from coal industry operators such as the mining safety fund in NSW and the victim funds from industry levies [ 55 ].Cited by: 4.