Tuesday, August 09, 2011

Airline Tax Turnover

I am sure many can remember the good old Charlie Brown episodes where Charlie Brown is attempting to kick the football and Lucy is the holder. Well we all know what happens, poor Charlie Brown thinks that he is going to finally kick that pigskin but right when he gets up to the ball, Lucy yanks it away and Charlie Brown falls on his face.

Well that scenario just played out in Congress recently in regards to the airline excise tax and potential refunds to small businesses and consumers and we already know who the characters were played by:

Lucy – Congress/IRS/FAA
Football – Excise Tax Refunds
And of course…
Charlie Brown – The Taxpayers

Yes folks all those potential refunds that many were expecting will never be sent. According to the IRS,

“passengers who purchased tickets prior to July 23 and traveled between July 23 and the date of enactment of today’s legislation are not entitled to a refund of the airline ticket excise tax.”

I guess there had to be a review from the booth on this one. Let me know your thoughts.

The Tech Accountant

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