Over the past few years, the Internal Revenue Service (IRS) has worked to issue final regulations that provide guidance to aircraft management companies and aircraft owners regarding their federal excise tax (FET)...more
The Internal Revenue Service (IRS) recently released Chief Counsel Advice (CCA) 2021-17-012 to explain that sole proprietor flights are generally not subject to the employer-provided aircraft rules in Internal Revenue Code...more
The Internal Revenue Service (IRS) is expected soon to publish its final rule on federal excise tax (FET) exemption for aircraft management companies and owners. The IRS pre-published final rules incorporate several...more
The National Business Aviation Association (NBAA) joined with the National Air Transportation Association (NATA) to submit to the Internal Revenue Service (IRS) and the U.S. Department of the Treasury on Sept. 29, 2020,...more
The Internal Revenue Service (IRS) has released a series of frequently asked questions (FAQs) regarding the federal excise tax (FET) holiday for commercial aviation operations created by the Coronavirus Aid, Relief, and...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) suspended federal excise taxes (FET) for commercial aviation operations until Dec. 31, 2020. A National Business Aviation Association (NBAA) article, "What...more
The Internal Revenue Service (IRS) has released its proposed regulations regarding tax treatment for business meals and entertainment activities. The proposed regulations are consistent with the prior guidance released by the...more
The Internal Revenue Service (IRS) held a hearing on Nov. 28, 2018, regarding its proposed bonus depreciation regulations. Holland & Knight Partner John Hoover testified on behalf of the National Business Aviation Association...more
The National Business Aviation Association (NBAA) on Nov. 5, 2018, filed the attached comments with the Internal Revenue Service (IRS) regarding IRS Notice 2018-76, which generally permits the deduction of business meals and...more
The Internal Revenue Service (IRS) has released a Notice regarding the tax treatment of meals, and the National Business Aviation Association (NBAA) has submitted comments to the IRS regarding the proposed regulations on...more