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About Form 6627, Environmental Taxes - IRS-2026
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Definition and Purpose of Form 6627
Form 6627, issued by the Internal Revenue Service (IRS), is designed to report environmental taxes related to petroleum and chemicals. Taxpayers use this form to compute taxes on crude oil, imported petroleum products, and certain specified chemicals that have environmental impacts. These taxes help finance initiatives addressing environmental concerns, such as the cleanup of hazardous waste sites.
How to Obtain Form 6627
Form 6627 can be obtained directly from the IRS website, where it is available for download as a PDF document. To access the form, navigate to the IRS's official site and search for "Form 6627." Alternatively, you can request a physical copy by calling the IRS or visiting a local IRS office. Many tax preparation software solutions also incorporate the ability to generate Form 6627 electronically, making it easier for businesses and individuals to prepare their tax obligations.
Steps to Complete Form 6627
- Identify Applicable Taxes: Determine which environmental taxes apply to your operations, such as those related to crude oil or chemicals.
- Gather Relevant Data: Collect data on quantities of applicable petroleum or chemical products handled during the tax period.
- Calculate Tax Owed: Use the form’s instructions to calculate the specific tax amounts for each category. This involves applying the correct tax rates to the reported quantities.
- Complete Each Section: Fill in the detailed entries for quantities, rates, and calculated tax amounts in the relevant sections of the form.
- Verify Information: Review the form to ensure all data entries are accurate and complete, reducing the risk of errors.
- Submit Form: Attach Form 6627 to Form 720 when filing your taxes.
Key Elements of Form 6627
- Crude Oil and Petroleum Taxes: These sections require detailed reporting of crude oil and imported petroleum products, including specific volumes and corresponding tax computations.
- Chemical Taxes: Different sections handle chemicals and ozone-depleting substances, with requirements to list types and quantities subject to tax.
- Final Calculation: The concluding sections of the form involve summing individual calculated taxes to reach a total environmental tax owed.
Filing Deadlines and Important Dates
The deadlines for filing Form 6627 align with Form 720, which is generally due quarterly. Specific deadlines usually fall on the last day of January, April, July, and October. These timelines ensure prompt reporting of environmental taxes and minimize the risk of penalties for late filing.
Who Typically Uses Form 6627
Businesses and entities that handle significant quantities of petroleum products or specific chemicals are the primary users of Form 6627. This includes industries such as petroleum refining, chemical manufacturing, and transportation companies that import or use ozone-depleting chemicals.
IRS Guidelines for Form 6627
The IRS provides comprehensive instructions that accompany Form 6627, offering guidance on completing each section accurately. These instructions define what constitutes taxable biochemical activities and outline necessary documentation for completing the form accurately.
Penalties for Non-Compliance
Failure to file Form 6627 timely or accurately can result in substantial penalties. The IRS may impose fines for late submission, underreporting, or non-payment of due taxes. Ensuring compliance with filing obligations protects entities from potential legal and financial consequences.
Digital vs. Paper Version of Form 6627
Form 6627 is available in both digital and paper formats. The digital option allows for electronic submission, often preferred for speed and efficiency, while the paper version suits those who prefer traditional filing methods. Whichever method is chosen, accuracy and timeliness remain crucial for compliance.
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What is the IRS form for farm expenses?
Sole proprietor farming businesses use IRS Schedule F, Profit or Loss from Farming to report income and expenses of the farming business. Schedule F can be used by partnerships, Corporations, Trusts and Estates to report farming activities.
What is a Superfund tax fee?
The Superfund Tax is a federal excise tax imposed on any taxable chemical sold or used by a manufacturer, producer, or importer on or after July 1, 2022. The monies are used to clean up hazardous waste sites.
What is the Superfund tax rate for 2025?
Additionally, as of January 1, 2025, the Superfund fee remains at 17 cts/bbl (0.00405 cts/gal) and may be adjusted yearly for inflation.
What is Form 6627 for environmental taxes?
The form 6627 is an attachment to Form 720 and used to figure the quarterly excise taxes under environmental tax on: Petroleum. Ozone-depleting chemicals (ODCs) Imported products that used ODCs as materials in the manufacture or production of the product, and.
How to calculate Superfund tax?
There are three ways to arrive at Superfund Excise tax rates: Use the default rates published by IRS. Self-assess the rate based on 10% of the appraisal value of the imported substances. * Calculate the rate based on the percentage amount of each listed chemical included in the substance.
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People also ask
What is the Superfund plastic tax?
Beginning again in mid-2022, the Superfund excise tax applies to the sale of certain chemicals like ethylene and propylene at a rate of $9.74 per ton. The Superfund excise tax goes into the Superfund, which is available to remediate environmental harms to land if no responsible party can be found.
What is the IRS Superfund tax rate?
The Superfund Tax rate for chemicals range from $048 per ton for nitric acid to $9.74 per ton for Benzene. The list of 42 chemicals and their respective excise tax rates is found in Internal Revenue Code (IRC) 4661(b). The Superfund tax is assessed on the manufacturer or importer of these chemicals.
What are environmental income taxes?
The term, environmental tax, encompasses an array of different types of taxes used to internalize negative environmental externalities, promote sustainable development, support environmental preservation, and generate revenue.
Related links
Purpose of Form. Use this form to figure the environmental tax on ODCs, imported products that used ODCs as materials in the manufacture or.Read more
Mar 30, 2026 Use this form to figure the environmental tax on petroleum, ozone-depleting chemicals (ODCs), imported products that used ODCs as materials