That tool is under warrenty whoever u bought it from should have it fixed. did u try to adjust the air flow on your forard and reverse by turning the nob right or left has numbers on it hold the trigger turn the nob i see what it does i rebuilt many a 261
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A very common problem with most impacts is the incorrect size of the air fittings and air hoses, follow the MFG'S suggestion located in the owner's manual. Most 3/4" impacts need a 1/2" i.d. hose with 1/2" series air couplers. All I.R. impacts have a screen on the inlet bushing that can become clogged with debris and will cause a low power condition, make sure it is clean. If the problem persists disassembly and inspection of the tool will be necessary. Most common problems are damaged / worn motor vanes, bearings, gaskets, seals, scarred endplates. Special note for IR261 the endplates along the edge have small plugs that can deteriorate cause an internal air leak causing low performance.
Follow this link to find the parts list for you model: http://manualarchive.ingersollrandproducts.com/
The air motor on the 285B needs to be oiled, the hammer section needs to be greased. The symptom described could be in the hammer mechanism, 285B's have 2 different side plates (item# 41) that sit atop the hammer mechanism, tools made from 2005 to 2007 use the old style side plate (item# 41) that has a small lip that need to sit looking toward the hammer case bushing (item# 44) when installed with the small lip facing in to the hammer will cause it to lock, tools made from 2008 to the present have a side plate that is flat on both sides and can be installed in either position. also check the hammer and anvil for cracks and pitting.
Follow this link to view the parts list. http://manualarchive.ingersollrandproducts.com/ir_pdfs/Tools/Vehicle%20Service%20Tools/Air%20Impact%20Tools/80162944.pdf
Ingersoll Rand 2705P1 1/2 inch 40-200 ft lb Industrial Duty Impact Wrench Max
Torque 400 Ft-Lb
Pneumatic Impact Wrench, Industrial Duty Pistol Grip Style Standard Anvil Square Drive Size 1/2 In Torque Range 40-200 Ft-Lb Max
Torque 400 Ft-Lb Average CFM @ 15 Second Run Time 4.2 CFM @ Full Load
23 Max Bolt Capacity 5/8 In Free Speed 8500 RPM Pin Retainer Type Required Pressure 90 PSI Air Inlet 1/4 In Min Hose 3/8 In Overall
Length 6 3/4 In Weight 2.55 Lbs Country of Origin: USA CR 4Z942
NOT exactly a solution, but may help you with your problem: I'm also a Owner of a 261 ( In fact 90% 0f all my Air Tools are IR) that I used everyday when I was working on Terex Equipment & EMD Locomotives. I "Upgraded" the Major Parts inside my Gun to the "Industrial Line" rather than the Automotive Parts since the 261 is classified as a Automotive Tool..and Installing an Adjustable Regulator on the Gun Helped a Lot too...by "tweeking" my Gun out, I was Pumping almost as much torque as some of the 1" Guns... FYI: Don't Over Oil as the Oil will absorb into the Vanes, causing them to Expand in thickness "Permanently"...just 2-3 drops of a Hi-Grade Air Tool Oil before starting the Day is enough...sounds to me like your Picking up some contamination someplace??