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Industry Circular

Number: 60-32

Date: August 23, 1960

Office of the Commissioner of Internal Revenue Alcohol and Tobacco Tax Division

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OVERPRINTING STRIP STAMPS

Importers and others concerned:

Purpose. The purpose of this circular is to inform you that you may block out, at the time of overprinting, the denomination on standard- size denominational red strip stamps and use and report such stamps in the same manner as the new nondenominational standard-size stamps.

Background. In Industry Circular No. 60-20, dated May 31, 1960, you were advised of the discontinuance of denominational red strip stamps, other than for bottles of less than 1/2 pint capacity, and of the design- ing and printing of a new nondenominational stamp for all bottles of a capacity of 1/2 pint or more. You were also advised to continue to requisition stamps by denomination until further advised by this office and to continue to use red strip stamps of a particular denomination as long as such denomination is furnished to you and until your stock is exhausted or until you are instructed to make other disposition of them.

Procurement and 0verprinting of Stamps. Regulations in 26 CFR Part 251, regarding the importation of spirits, and in 26 CFR Part 250, regarding the shipment of spirits to the United States from the Virgin Islands, require red strip stamps to be overprinted with the name and address of the importer. In order to simplify operations involving denominational red strip stamps, you may, at the time of overprinting the stamps as required by regulations, block out the denomination on standard- size denominational red strip stamps in your possession and use them in the same manner as the new nondenominational standard-size stamps. Importers who desire to so block out the denominations on such stamps should insert on the blank line in column (a) of Form 428 the words "Any denomination" instead of specifying the denomination.

Reporting Stamps on Form 96. For the purpose of reporting stamps on Form 96, the instructions given in Industry Circular No. 60-20 in respect of reporting the new standard-size stamps will be followed in respect of the blocked-out denominational stamps.

Inquiries. Inquiries about this circular should refer to its number and be addressed to your assistant regional commissioner, alcohol and tobacco tax.

Dwight Avis

Dwight E. Avis

Director, Alcohol and Tobacco Tax Division

IRS - D. C. - 61383

 
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