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TTB NEWSLETTER | Weekly News

May 18, 2018


IN THIS ISSUE

Greetings! This week's top news includes that we modified and extended the duration of TTB Industry Circular 2018-1 regarding tax credits that are available to producing wineries, we are offering another session of our popular "All About Whisky" webinar, the selection of Joe Burruss for a Treasury Leadership Legacy award, and recent changes made to Formulas Online.

PROVISIONS AND DURATION OF TTB INDUSTRY CIRCULAR 2018-1 EXTENDED

On May 17, 2018, we issued TTB Industry Circular 2018-1A, which modifies and supersedes Industry Circular 2018-1. In 2018-1A, we restate the alternate procedure provided by Industry Circular 2018-1, but specifically extended its provisions to wine that is stored at a bonded winery, as the prior version only referred to wine stored at a bonded wine cellar.  We also extended the duration of the alternate procedure through December 31, 2019.

This temporary alternate procedure allows producing wineries to tax determine and tax pay, upon removal from bond, wine of their production stored untaxpaid at a bonded wine cellar or bonded winery, as if it were removed from the producing winery's bonded premises.

Read TTB Industry Circular 2018-1A.

TTB WEBINAR: ALL ABOUT WHISKY

Date: Wednesday, May 30, 2018

Time: 1-2 p.m. EDT

Due to the exceptionally high level of interest in this topic, we are offering another session of our whisky webinar for those who were unable to participate in the May 9 session.

Register for this webinar and learn about the most important aspects of how TTB regulates the formulation and labeling of whisky, including whisky production requirements, when formulas are needed, and specific labeling issues related to whisky.

Topics will include:

  • Mash requirements
  • Aging requirements
  • When is a formula necessary
  • Common labeling issues for whisky

Please note that spaces are limited, so register now.

JOSEPH BURRUSS AWARDED TREASURY'S 2018 LEADERSHIP LEGACY HONOR

As part of its 2018 Leadership Legacy Honors, the U.S. Department of the Treasury recognized Joseph (Joe) Burruss, TTB's Finance and Performance Budgeting Division Director, as one of Treasury's best leader-mentors. This honor is in recognition of his outstanding leadership and commitment to the mission of TTB.

It isn't difficult to understand why Mr. Burruss is qualified to receive this honor, which is reserved for those who have achieved mission results through successfully mentoring and coaching employees and teams to achieve their highest potential.

Mr. Burruss is the type of federal manager that other managers should emulate. He has both extensive technical knowledge and exceptional leadership skills. He is an innovative, inclusive, supportive, understanding, and compassionate leader who is highly respected throughout TTB.

Mr. Burruss's accomplishments include achieving an annual 99 percent obligation rate (spending nearly every dollar appropriated to TTB), as well as consistently securing an unmodified opinion on TTB's financial statements, which means that all of TTB's financial statements give a true and fair view of the TTB's operations, and are in line with accepted accounting principles.

FORMULAS ONLINE 2.7 IS HERE!

This latest release of Formulas Online includes improved handling when viewing multiple submissions at once to prevent you from unintentionally updating the wrong one.

For details and additional changes, check out What's New in Formulas Online 2.7.

 

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