"Current IRS Rules Do Not Sufficiently Explain..."
NBAA and NATA have asked the IRS to continue the reform of Federal Excise Tax (FET) regulations by addressing unclear and confusing rules covering the collection responsibilities for air charter operators and brokers. IRS, at the beginning of 2021, issued final rules on FET obligations for aircraft management services paid for by aircraft owners. The final rule also referenced regulations on payment and collection of FET, an issue raised by NBAA and NATA in their comments, but the agency suggested a separate rulemaking project to address those concerns.