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Advance Payments Tax Rules Could Be Good News for Aerospace

Sept. 9, 2019, 8:45 AM

The IRS may have delivered a victory to manufacturers like Boeing Co. and United Technologies Corp. in new proposed rules, which the companies lobbied on while they were under White House review.

The rules (REG-104554-18) govern a 2017 tax law provision that allowed businesses to delay tax on payments made in advance for goods and services for up to a year. Makers of expensive equipment like Boeing and United Technologies, however, previously enjoyed multiple years of deferral on advance payments for planes and other aerospace industrial parts, and worried that they might lose the benefit.

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