Industry Circular

Number: 55-20
Date: July 25, 1955

U.S. TREASURY DEPARTMENT
Internal Revenue Service
Washington 25, D.C.

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Discontinuance of Internal Revenue Tobacco Invoices, Form 774

Dealers in leaf tobacco and dealers in tobacco materials:

1. The purpose of this industry circular is to provide immediately the same relief to dealers in leaf and other tobacco materials from the preparation of certain internal revenue tobacco invoices, Form 774, as has been accorded manufacturers of tobacco products under new regulations, Parts 270 and 275 of Title 26 CFR (1954), which became effective June 25 and July 19, 1955, respectively.

2. The leaf tobacco markets are beginning to open for the coming tobacco marketing season. In connection with the sales of leaf tobacco on these markets, the dealers in leaf tobacco who operate the auction warehouses where the sales of leaf tobacco are consummated are required to prepare thousands of invoices, Form 774, in connection with such sales. In many cases it is necessary for the proprietors of such warehouses to supply a staff of people to prepare and handle the invoices covering their sales of tobacco.

3. Since the preparation of such invoices by manufacturers of tobacco products has been discontinued with respect to domestic purchases, receipts, sales and shipments of tobacco materials by them, and the same arrangement is intended for dealers in tobacco materials under proposed regulations Part 280 of Title 26 CFR (1954), the preparation of internal revenue tobacco invoices, Form 774, by dealers in leaf and other tobacco materials shall be discontinued immediately, except in connection with the importation and exportation of tobacco materials where the invoices must be presented to the appropriate customs authorities for completion and endorsement.

4. Inquiries in regard to this industry circular should refer to the number thereof and should be directed to the appropriate Assistant Regional Commissioner, Alcohol and Tobacco Tax.

Dwight E. Avis
Director, Alcohol and Tobacco Tax Division IRS-11902