New IRS Taxation of Managed Aircraft: 4 Updates and 3 Questions for Aircraft Owners (Part 2 of 2)

Much of the current debate is focused on what aircraft management companies should do to respond to the new IRS FET. At the April 12, 2012 National Business Aviation Association (NBAA) Forum in Van Nuys, a presentation on this issue was made by John Hoover, chairman of the Federal Tax Working Group of the NBAA Tax Committee. John also shared a draft paper entitled “IRS Chief Counsel Advice...