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June 2002
IRS ExSTARS OFFICIAL WARNS
NON-REPORTING TERMINALS THAT TIME IS RUNNING OUT
At ILTA’s 2002 Annual Operating Conference on June 10, ExSTARS Project
Manager Tim Torri provided an update on the ExSTARS program and issued a
blunt warning to registered terminal companies that have not yet begun to
file monthly reports. He noted that federal law requires companies to file
monthly reports as a condition of maintaining their registration. The IRS
regulation requiring monthly filing merely implements federal law.
According to Mr. Torri, after September 1, the IRS will start the process
of revoking the registrations of those companies that have not filed
monthly reports. Action will not be taken against companies that have
contacted the IRS to explain the reasons for the delay and to work out an
acceptable start-up schedule. If a terminal loses its registration, its
customers will be required to pay the excise tax when they deliver
products to the terminal and then go through a burdensome refund process.
September 2001
ExSTARS Q&A
- document provided by IRS
August 2000 (public
meeting in Houston)
ILTA
Summary (Word
document)
ILTA
Summary (PDF)
IRS - Slide Presentation
available in two formats:
Industry Filing
(PowerPoint)
Industry
Filing (PDF)
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