Guidance on Corporate Aircraft Deduction Disallowance -- Notice 2005-45

Tax and Employee Benefits Alert
06.01.05

Last Friday, the IRS released guidance in the form of Notice 2005-45 on the provisions in the American Jobs Creation Act of 2004 relating to deductions for the entertainment use of corporate aircraft. Miller & Chevalier has prepared a chart outlining the highlights of the guidance.

In addition, to address this guidance in more detail, Miller & Chevalier has scheduled a teleconference on Friday, June 3 from 1-2:15 pm (EDT) which will be presented by Marianna Dyson and Fred Oliphant.

For further information about this Alert or other employee benefits issues, please contact:

Fred Oliphant, foliphant@milchev.com, 202.626.5834

Marianna Dyson, mdyson@milchev.com, 202.626.5867

Related Files
Related Links

The information contained in this newsletter is not intended as legal advice or as an opinion on specific facts. This information is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. For more information about these issues, please contact the author(s) of this newsletter or your existing Miller & Chevalier lawyer contact. The invitation to contact the firm and its lawyers is not to be construed as a solicitation for legal work. Any new lawyer-client relationship will be confirmed in writing.

This newsletter is protected by copyright laws and treaties. You may make a single copy for personal use. You may make copies for others, but not for commercial purposes. If you give a copy to anyone else, it must be in its original, unmodified form, and must include all attributions of authorship, copyright notices and republication notices. Except as described above, it is unlawful to copy, republish, redistribute, and/or alter this newsletter without prior written consent of the copyright holder.