NBAA welcomes action from the Internal Revenue Service (IRS) suspending tax assessments that could be applied to aircraft management companies during federal excise tax audits, giving the agency time to work with industry on additional guidance. "We applaud this decision by the IRS as it addresses an issue that has caused unprecedented concern about potential retroactive and future tax liabilities throughout the business aviation community," said NBAA President and CEO Ed Bolen. Review the press release.
Association President and CEO Ed Bolen welcomed the announcement by the U.S. Department of Transportation that 149 contract air traffic control towers, slated for closure next month, will instead remain open throughout the federal government's 2013 fiscal year, which ends Sept. 30. Review the press release.