Charter & Fractional
IRS Meetings May Ease Part 91 FET Burden
Scott O’Brien, NBAA senior finance and tax policy manager, hopes an NBAA and NATA working group can convince the IRS to put a hold on audits of Part 91 operations until the agency provides some clarity on the federal excise tax issue. (Photo: Savannah Thurber)
Scott O’Brien, NBAA senior finance and tax policy manager, hopes an NBAA and NATA working group can convince the IRS to put a hold on audits of Part 91 operations until the agency provides some clarity on the federal excise tax issue. (Photo: Savannah Thurber)

On March 26 an NBAA and NATA working group met with Internal Revenue Service (IRS) officials to discuss the Federal Excise Tax (FET) issue. IRS auditors are applying the FET to management fees and expenses paid by Part 91 (non-commercial) operators to management companies.

Loading…