Tags: AIRFARE | AZ | BNALL | BNCOPY | BNSTAFF | BNTEAMS | BON

IRS Says Airlines Must Start Charging Ticket Taxes by Aug. 8

Friday, 05 August 2011 03:57 PM EDT

Aug. 5 (Bloomberg) -- Airlines must resume charging U.S. ticket taxes by 12:01 a.m. Aug. 8, said Frank Keith, a Internal Revenue Service spokesman.

A bill reinstating the Federal Aviation Administration’s taxing authority through Sept. 16 is heading to President Barack Obama for his signature. The taxes had lapsed July 22, and the law would impose them retroactively.

The IRS will not attempt to collect taxes from passengers or airlines for tickets purchased since July 22. Most airlines raised their fares to cover the amount of the lapsed tax.

--Editors: Jodi Schneider, Bernard Kohn

To contact the reporter on this story: Richard Rubin in Washington at [email protected]

To contact the editor responsible for this story: Mark Silva at [email protected]

© Copyright 2024 Bloomberg News. All rights reserved.


Markets
Aug. 5 (Bloomberg) -- Airlines must resume charging U.S. ticket taxes by 12:01 a.m. Aug. 8, said Frank Keith, a Internal Revenue Service spokesman. A bill reinstating the Federal Aviation Administration’s taxing authority through Sept. 16 is heading to President Barack...
AIRFARE,AZ,BNALL,BNCOPY,BNSTAFF,BNTEAMS,BON,BUD,BUSINESS,CECO,CNG,COS,DCAA,ECO,EXE,FIN,FINMIN,FINNEWS,G7ECOS,GA,GBN,GOV,GOVME,GOVMISC,IL,LAW,LOBBY,MARKETS,MINFIN,MSCINAMER,MSCIWORLD,NORTHAM,NY,OFFSHORE,ONWEB,ORIGINAL,PHILANTHRO,POL,POLNEWS,PW,SMALLCAP,STFILT241,STFILT266,STFILT268,STK,TAX,TAXLAW,TAXPREP,TRANSREG,TRE,TRN,TX,US,USBNX,USECO,USGOV,USGOVERN,USMA,USMW,USSE,USSO,USSW,WASHNEWS
119
2011-57-05
Friday, 05 August 2011 03:57 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved