jrfalcon

first time forms questions

2 posts in this topic

I just received my dsp permit 3 weeks ago, we will not be doing any producing for a few months , what forms must I file in the beginning as most of this looks greek to me, thanks, mike

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Well, it is a strange language.  

I answered this in another way, in response, I think, to a similar question you posted before.  If you don't know what the words mean, then you are obviously at a loss to complete the forms that you must file.

TTB provides information about when and what you must file and has some tutorials on the report.  If you are not familiar with the TTB website, you should become familiar with it.  It does not answer all questions, but it will tell you when and what reports and returns you must submit, as does part 19, another source with which you should become familiar.

I will offer this - briefly, you must file forms for all of the operations for which you qualified.  If you said you will produce, store and processes, you have to file those operating reports, even if they are full of zero's (you can get away without doing so, but TTB may demand them at some time in the future, especially if you propose to get a waiver to the bond requirements).  You also need to file a zero tax return at least quarterly, which would mean that you have to file operating reports and the tax return by January 14.  Since you are not going to be doing anything for a few months, that gives you the opportunity to learn what you must know to do what you must do.  That will depend on the operations you conduct and the transactions in which you engage.  TTB provides a list of the due dates for all tax returns each year, taking into proper account holidays, etc.  You need to obtain that and keep it and file when it says you must.  

Someone pointed you toward Jim McCoy's articles.  Read them.  They omit some things you will need to know, but they provide you with a basis for at least asking questions that are not so open ended that answering them requires a discussion of half or more of what the regulations provide.  TTB puts the ball in your court and expects that you will keep it in play.  TTB also thinks that your doing what the law and regulations require is every bit as important as you think  producing and selling your product is.  You may not agree with that, but, as someone pointed out a long time ago, TTB bats last.  They expect you to make the effort required.    

 

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