INSTEAD OF ENJOYING THE amazing success of the Washington Nationals baseball team this summer, officials at the NBAA and other aviation trade groups are arm wrestling with the Internal Revenue Service. The problem is some new IRS interpretations that could cost aircraft owners millions of dollars in lost depreciation and other expenses for using their corporate aircraft. In a move that one NBAA official labeled ``a backdoor tax increase,'' the IRS is not distinguishing between the ...

THIS CONTENT REQUIRES SUBSCRIPTION ACCESS

You must be a paid subscriber to access "IRS Rules Boost Aircraft Costs New interpretations by the tax police are making it more expensive to buy and operate a business aircraft.".

 

Current Aviation Week Intelligence Network (AWIN) enterprise and individual members: please go to http://awin.aviationweek.com for access.

 

Not currently a subscriber? Click on the "Learn More" button below to view subscription offers.

Already registered? here.