1.Prepare TTB F 5000.24sm, Excise Tax Return, in duplicate. The return must cover all tax liabilities incurred or discovered during the tax period.
2.Prepare a separate TTB F 5000.24sm for each distilled spirits plant, bonded wine cellar or winery, brewery, tobacco products factory, or cigarette papers and tubes factory from which you make removals subject to tax.
3.TTB Form 5000.24sm must be used as both a prepayment tax return and a deferred payment tax return. Except as noted below, you must file TTB F 5000.24sm for each tax return period, whether or not you prepaid all tax liabilities incurred
during the period. Exceptions: (a) distilled spirits plant proprietors who are not exempt from bond requirements under 27 CFR 19.151(d) and who do not have an approved bond covering the deferred payment of taxes; (b) proprietors of bonded wine cellars or wineries who have no tax due, per 27 CFR 24.271; (c) manufacturers of tobacco products who have complied with the provisions of 27 CFR 40.162; and (d) manufacturers of cigarette papers and tubes who have complied with the provisions of 27 CFR Part 40.
4.Export warehouse proprietors transmitting remittances for unassessed liabilities (27 CFR 44.67) must prepare TTB F 5000.24. The proprietors must complete items 2, 3, 6-8, and 22-24. They must also complete appropriate line items under Calculation of Tax Due and make any necessary explanation in item 35.
5.ITEM 1. Begin with "1" January 1 of each year. Use a separate series of numbers with the prefix "P" to designate prepayment returns. Begin with "P-1" to designate the first prepayment return filed on or after January 1 of each year.
6.If this form contains pre-printed information in items 6, 7, or 8, and the information is incorrect, make the necessary corrections by crossing out any errors and print- ing the correct information in the same area. If there is no pre-printed information in these areas, print or type the required information in the spaces provided.
7.ITEM 6. Enter your employer identification number here and on all checks or money orders which accompany your return. If you have not been assigned an employer identification number, you must obtain and file Form SS-4 with your local Internal Revenue Service office.
8.LINES 9-21. Show on the appropriate line or lines the amount of tax being pre- paid or, if the return covers a tax return period, the tax liability incurred during the period. If the return covers a tax return period, you must include at lines 9-16 all tax liabilities incurred during the period even if you have already prepaid the tax.
(You will show prepayments in Schedule B as adjustments decreasing the amount due.)
Brewers must calculate the amount of tax reported at Line 11 using net taxable removals during the return period. For any return period, net taxable removals equal the total number of barrels removed for consumption or sale minus the total number of barrels returned to the brewery from which removed during the same period.
9. SCHEDULE A. Use Schedule A to report adjustments increasing the amount
due (for example, an error in a previous return period that resulted in an underpayment of tax). In addition, proprietors of distilled spirits plants must use
Schedule A to report the tax and interest, if any, on unexplained shortages of bottled distilled spirits, as required by 26 U.S.C. 5008(a) (1) (C), and proprietors of small winery premises who overestimated their wine credits must compute the tax and interest as required by 27 CFR 24.279(a).
10.SCHEDULE B. Use Schedule B to report adjustments decreasing the amount due (for example, an error in a previous return period that resulted in an overpayment of tax). Prepayments of tax, claims approved for credit of tax, the number of gallons and the applicable tax credit allowed for being a small winery, and other authorized adjustments must be reported in Schedule B. You may carry over to Schedule B of your next tax return the unused portion of any approved tax credits or adjustments.
11.EXPLANATION OF ADJUSTMENTS. You must fully explain adjustments reported in Schedules A and B. Identify any prepayments by serial number of the tax return on which the tax was prepaid. Identify approved claims by claim number. In all other cases, you must enter, as a minimum, the date of the transaction (the date of an error, the date a shortage was found, etc.), the identity and quantity of the product involved in the adjustment, and the reason for the adjustment. If neces- sary, use the space above or attach a separate sheet to explain adjustments fully.
12.INTEREST. The law provides for the payment of interest on underpayments and overpayments of tax. Interest, if applicable, will be computed at the rate prescribed by 26 U.S.C. 6621 and reported as a separate entry in Schedule A or B. To avoid paying interest on unexplained shortages of bottled distilled spirits, you must re- port the shortage on the tax return covering the period in which you discovered the shortage. Interest is not allowed on adjustments involving the prepayment of tax or approved claims for credit of tax (unless the approved claim specifically authorized such interest).
Compute the interest on underpayments from the due date of the return in error to the date of payment. Compute the interest on overpayments from the date of overpayment to the due date of the return on which the credit is taken.
13.Enter "NONE" in Schedule A or Schedule B if there is no transaction.
14.Payment must accompany this form except when the payment is by electronic funds transfer (EFT).
15.Mail this return to:
TTB
Excise Tax
P. O. Box 790353
St. Louis, MO 63179-0353
