(Washington DC) – On Monday, the Obama administration revealed its FY 2013 budget sent to Congress. Treasury Secrtary, Time Geithner, says of the budget, “This fiscal plan entails a carefully designed set of investments and reforms to boost growth, create jobs and improve opportunity for middle-class Americans.”

There had been talk about what Obama would do with the Alcohol and Tobacco Tax and Trade Bureau (TTB) going forward, if anything, though the TTB is in the budget once again. The 2013 budget plans for a 3% decrease in appropriations to the agency, tentatively totaling nearly $97 million. Full details in the program summary.

Something noteworthy for beer businesses with respect to bond requirements…

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The proposal, which is presented as part of the Administration’s overall tax agenda, would require any distilled spirits, wine, and beer taxpayer who reasonably expects to be liable for not more than $50,000 per year in alcohol excise taxes (and who was liable for not more than $50,000 in such taxes in the preceding calendar year) to file and pay such taxes quarterly, rather than semi-monthly. The proposal would also create an exemption from the bond requirement in the Internal Revenue Code of 1986 (IRC) for these small taxpayers. The proposal includes conforming changes to the other sections of the IRC describing bond requirements.

Additionally, the proposal would allow any distilled spirits, wine, or beer taxpayer with a reasonably expected alcohol excise tax liability of not more than $1,000 per year to file and pay such taxes annually rather than on a quarterly basis. The proposal will create parity among alcohol taxpayers by allowing eligible distilled spirits and beer taxpayers to file annually as well.

The proposal would be effective 90 days after the date of enactment.