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Advocacy Efforts Achieve Breakthrough On Federal Excise Tax Issue

May 18, 2013

Audit Assessments To Be Suspended While Guidance Is Developed The Internal Revenue Service (IRS) announced Thursday that it was suspending tax assessments that could be applied to aircraft management companies during federal excise tax (FET) audits, giving the agency time to work with industry on additional guidance. The move was welcomed by advocacy groups like the NBAA and NATA, which had lobbied the agency for the guidelines.

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