NBAA REQUESTS PUBLIC HEARING ON PROPOSED IRS REGULATIONS
September 27, 2020
On August 24, 2020, the National Business Aviation Association (NBAA) filed a comment, available here, on Prop. Treas. Reg. § 1.274-14, Qualified Transportation Fringe, Transportation and Commuting Expenses under Section 274, which was published in the Federal Register by the IRS on June 23, 2020. The NBAA’s comment requested a public hearing so that the IRS could provide additional guidance on a number of issues related to the disallowance of commuting expenses, a provision enacted in the Tax Cuts and Jobs Act of 2017. Specifically, the NBAA’s comments raises issues with: i) how compensation fringe benefits are reported as taxable compensation for employees; ii) distinguishing deductible business travel from commuting; iii) which costs should be disallowed under commuting benefits; iv) the travel exemption for employee safety; and v) the definition of “employee” under the regulation.
If you have any questions, please contact Evelyn Sahr (esahr@eckertseamans.com or 202-659-6622); Drew Derco (dderco@eckertseamans.com or 202-659-6665), or Andy Orr (aorr@eckertsemans.com or 202-659-6625).
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