Charter & Fractional
NetJets Prevails in Lawsuit against IRS
The court "invalidated the more than $500 million of assessments, penalties and interest the IRS was attempting to collect from NetJets."

Part of a 2011 lawsuit that NetJets filed against the U.S. government has been resolved in the fractional-share company’s favor. NetJets filed the lawsuit seeking “refund and abatement of excise taxes, interest and penalties totaling $642,706,119.89, which the Internal Revenue Service (‘IRS’) has illegally assessed against them under section 4261 of the Internal Revenue Code,” according to the document.  


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