President Signs Bill Extending Aviation Taxes


On March 30, President Obama signed into law the Federal Aviation Administration Extension Act of 2009, PL 111-12. This act extends the taxes that fund the Airport and Airway Trust Fund through the end of September. The taxes had been scheduled to expire on March 31.

 

Specifically, the fuel excise tax in IRC § 4081 and the air travel taxes in sections 4261 and 4271 are extended through Sept. 30, 2009. The Airport and Airway Trust Fund authority under section 9502 is extended until Oct. 1, 2009.

 

The act also extends the Airport Improvement Program and other expiring authorities under the transportation title of the U.S. Code, title 49.

 

Where to find January’s flipbook issue

Starting this month, all Association magazines — the Journal of Accountancy, The Tax Adviser, and FM magazine (coming in February) — are completely digital. Read more about the change and get tips on how to access the new flipbook digital issues.

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Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.