Business aviation advocates are hopeful that the IRS is moving forward on new guidance on taxing aircraft management fees, but are still awaiting firm word on whether they will be treated as commercial or noncommercial activities. The IRS in 2012 released a memorandum that called management fees commercial activity and stated they should be treated for tax purposes accordingly. That memorandum spurred a large number of audits resulting in hefty tax assessments – some in the ...
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