Federal Taxes | NBAA - National Business Aviation Association

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Podcast: NBAA Offers Guidance on Tax Reform Provisions Feb. 25, 2019: John Hoover explains some of the tax changes affecting business aviation due to the Tax Cuts and Jobs Act.
Business Meals Remain Deductible Under IRS Notice; NBAA Provides Comments Nov. 9, 2018: On Oct. 3, 2018, the IRS issued a notice that implicitly concludes that business meals are generally non-entertainment expenses and can be deductible if certain requirements are met.
NBAA Requests Clarification on Bonus Depreciation Proposed Regulations Oct. 12, 2018: NBAA submitted comments to the IRS on the definition of a written binding contract in proposed regulations relating to immediate expensing.
IRS Issues Proposed Regulations on Bonus Depreciation Aug. 16, 2018: A notice of proposed rulemaking from the IRS on the extension and modification of 100 percent bonus depreciation includes key recommendations from NBAA’s formal request for guidance.
Recent SEC Settlement on Perquisite Disclosure is Reminder for Public Companies Using Business Aircraft July 18, 2018: Public companies that operate business aircraft should review their executives perquisite disclosure policies and procedures on a regular basis to ensure they meet SEC requirements.
NBAA Urges Members to Conduct Careful Tax-Reform Planning June 28, 2018: After NBAA's June 13, 2018, letter, the association is encouraging members to familiarize themselves with changes that will impact their businesses as they plan for next tax season.
Tax Reform Highlights for Business Aviation Dec. 19, 2017: The House and Senate have both voted to pass major tax reform legislation, and are expected to send the Tax Cuts and Jobs Act (“Tax Bill”) to the president for his signature before Dec. 25, 2017. The legislation contains important changes for business aviation in several areas, including bonus depreciation, like-kind exchanges and more.
NBAA Members Urged to Contact Congress on Aviation-Related Tax Reform Issues Dec. 7, 2017: The tax reform bills include issues impacting business aviation such as immediate expensing, like-kind exchanges and taxes applicable to aircraft management companies.
Prepare Your Flight Department Now For Tax Filing Nov. 6, 2017: Be prepared for filing taxes - now is the time for flight departments to work on their tax liability. There are new tax provisions if your aircraft was damaged by Hurricanes Harvey or Irma and out-of-pocket expenses may be deductible. Listen to the NBAA Flight Plan Podcast to learn more.
When Are IRS Commercial Transportation Taxes Due for Part 91 Flights? April 6, 2017: Many business aircraft operators make use of the limited options for cost reimbursement provided by the FAA under Part 91, Subpart F of the Federal Aviation Regulations (FARs). These options include timesharing, interchange or joint ownership agreements, affiliated group operations and demonstration flights.
IRS Audits and Recordkeeping March 24, 2017: What are the key records to keep in preparation for IRS audits and how does the actual IRS audit process function for business aircraft.
NBAA Legal Brief Asserts Need for IRS Consistency, Clarity on Federal Excise Tax Sep. 23, 2016: NBAA filed an amicus brief in the Fifth Circuit Court of Appeals supporting Bombardier Aerospace, the prior owner of FlexJet, in a challenge to retroactive assessments of federal excise tax on fractional aircraft management fees.
Clarifying Federal Excise Tax Regulations Aug. 26, 2016: To find out what NBAA is doing to help business aircraft operators understand the complex IRS regulations covering federal excise taxes on air transportation of passengers, read the July/August 2016 edition of NBAA's Business Aviation Insider magazine.
Tax Court Decision Provides Insights into Hobby Loss Rules Aug. 5, 2016: A tax court case involving a physician who said the use of an airplane was to further his medical practice, and attempted to claim tax deductions, highlights a potential tax trap.
IRS Priority Guidance Plan May 20, 2016: The IRS issues a Priority Guidance Plan to identify federal tax issues that should be addressed through regulations, revenue rulings and other published guidance
Tax Case Highlights Risks of Bad Recordkeeping, Hobby Loss May 11, 2016: To deduct aircraft expenses from taxable income, business owners must be able to show that the aircraft was used in a bona fide trade or business and not as a casual investment.
IRS Memorandum Has Implications for Like-Kind Exchanges, Federal Tax Planning Jan. 6, 2016: The IRS has released a memorandum that provides information to business aircraft owners considering like-kind exchanges or using special purpose entities to own and lease aircraft.
NBAA's Business Aviation Taxes Seminar Sets Attendance Record May 14, 2015: NBAA's 2015 Business Aviation Taxes Seminar (BATS), held May 8 in Dallas, TX, attracted a record number of attendees interested in learning about emerging issues in federal and state tax regulations, and how to handle them.
FAA Clarifies Policy That Fuel-Tax Revenue Must Fund Aviation Nov. 26, 2014: The FAA has amended its airport revenue usage policy to emphasize that tax revenue from aviation fuel sales must go back into the aviation system.
Grassroots Advocacy Drives Legislation to Resolve Tax Policy on Aircraft Management Companies Nov. 14, 2014: NBAA and its Members are working with congressional representatives to promote legislation clarifying that flights using a management company are non-commercial.
NBAA Engaged in Latest SEC Disclosure, Tax Reform Discussions Aug. 15, 2014: While Congress may be in recess for August, the policymaking work in Washington, DC continues throughout the summer, and NBAA remains focused on a host of issues relevant to business aircraft operators, including federal taxes.
Net Investment Income Tax July 11, 2014: The Treasury Department and the IRS published final regulations implementing the net investment income tax (NIIT), which imposes a 3.8-percent tax on the investment income of certain individuals, estates and trusts and impacts many common business aircraft leasing arrangements.
IRS Suspends FET Assessments for Owner Flights on Managed Aircraft: Background Meetings Leading Up to Suspension May 20, 2013: On May 16, 2013, the IRS informally announced that it will suspend the assessment of Federal Transportation Excise Tax (FET) on owner flights on aircraft managed by aircraft management companies. NBAA has numerous resources available to keep members up to date on issues surrounding the IRS chief counsel advice (CCA) memorandum regarding the taxability of aircraft management fees.
IRS Interpretation of Section 280F Creates Trap for the Unwary Dec. 5, 2011: The IRS interpreted a provision in § 280F (§ 280F(d)(6)(C)(i)) in a manner that could cause some legitimate business flights to be treated as personal flights for purposes of determining whether the aircraft is eligible to be depreciated under MACRS.
Regulatory and Tax Considerations for Charitable Flights Aug. 2, 2010: Information on FAA and IRS regulations regarding charitable flights.
“Registered Ultimate Vendor” April 6, 2009: Beginning October 1, 2005, federal excise tax imposed on removal of kerosene from the terminal rack will be $0.244 per gallon. Initially, this tax will be credited to the Highway Trust Fund; the amount eligible to be transferred into the Airport and Airway Trust Fund is based on the gallons that are used in aviation.
Aviation Fuel Taxes for Flight Departments: Understanding Fuel Taxes, Refunds and Credits Nov. 9, 2007: Many questions are raised by Flight Departments about what taxes apply and what credits or refunds are available. Since there is not a simple answer to these questions, I interviewed myself, asking the questions I have been asked by flight departments and FBOs over the last two years.

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