• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Tax refunds stranded on the runway

by on
in Small Business Tax,Small Business Tax Deduction Strategies

After Congress allowed the federal excise taxes for airline travel to expire, it was widely believed that passengers who booked flights before July 23, 2011, for travel after July 22, 2011, would be entitled to refunds.

The excise taxes include a 7.5% tax on the base ticket price, a levy of $3.70 per person for domestic flight segments and a facilities tax of up to $16.30 per person for certain international flights.

However, the IRS has backpedaled now that the taxes have been reinstated, beginning Aug. 8, 2011. On its website, it says that airline passengers who took flights during this two-week period can’t claim refunds. Saving grace: If you purchased tickets during the brief shutdown, you won’t be assessed the excise taxes retroactively.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/28153/tax-refunds-stranded-on-the-runway "

Leave a Comment