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IRS Issues Draft Regulations to Exempt Aircraft Management Services From Federal Excise Tax

IRS Issues Draft Regulations to Exempt Aircraft Management Services From Federal Excise Tax

Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...

Posted by Carmen Garcia on 11/25/2020

San Antonio TX Tax Pro for aircraft Management Services Tax Preparer for Exempt Aircraft Management Services. Section 4261 TCJA 4261(e)(5) IRC NBAA Part 135 Part 91
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