Skip to main content

DC Tax Flash: IRS Issues Proposed Rules on Excise Tax on Aircraft Management Services

Tax Alert

The Internal Revenue Service (IRS) today issued proposed regulations on the exemption for amounts paid for certain aircraft management services under Internal Revenue Code section 4261(e)(5).

The proposed regulations also "amend, revise, redesignate, and remove provisions of existing regulations that are out-of-date or obsolete and generally update the existing regulations to incorporate statutory changes, case law, and other published guidance," the IRS explains. In addition, the proposed regulations withdraw a provision [ยง40.0-1(d) of proposed rule: REG-155087-05] that was included in a prior notice of proposed rulemaking that was never finalized and re-propose it." 

Comments on the regulations will be due by the end of September.

The 54-page text of the proposed regulations is posted here.

Miller & Chevalier Coronavirus Task Force
The outbreak of COVID-19 is creating significant business and legal challenges for companies throughout the world. In response to client demand, the firm has formed an interdisciplinary task force to help businesses navigate these issues.

COVID-19 Resource Library
We also maintain a resource library of legislative responses and regulatory guidance related to COVID-19.

The information contained in this communication 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, please contact one of the senders 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, and related communications, are 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 presentation without prior written consent of the copyright holder.