Treasury Denies Congressional Request to Further Delay FET Payments

The U.S. Department of the Treasury this week denied a Congressional request to extend the delay of federal excise tax (FET) payments for all domestic distilled spirits, wine and beer.

In March, the Treasury delayed FET deadlines by 90 days in response to the COVID-19 pandemic. In a May 18 letter to Secretary of the Treasury Steven Mnuchin, members of congress asked the Treasury to delay all deadlines for the remainder of calendar year 2020, including any interest and penalties accrued. The letter was co-signed by Representatives Earl Blumenauer (D-OR), Tom Reed (R-NY), Mike Quigley (D-IL), Ann Wagner (R-MS), and other signatories included more than 120 additional members of Congress.

In his response to the members of Congress, Frederic W. Vaughan, the principal deputy assistant secretary of the Treasury’s Office of Legislative Affairs, wrote, “Although we presently have no plans to expand relief beyond our March announcement, we are continuing to monitor the economy for areas and industries in need of additional relief.”

On June 8, 22 U.S. Senators also wrote to Mnuchin asking for a deferment of FET payments until the end of 2020.

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