IRS Ramping Up Tax Audits Of Private Jet Use In Latest Enforcement Crackdown

Published on February 22, 2024

The Internal Revenue Service (IRS) said it’s using some of its recent $60 billion funding boost to crack down on improper accounting of personal use of business jets in a bid to squeeze more revenue from wealthier taxpayers. The IRS said on Feb. 21 that, as part of its ongoing efforts to boost tax compliance in high-income categories, it’s planning to launch dozens of tax audits involving personal use of business aircraft. Corporate aircraft are often used for both business and personal travel, with personal use of business jets impacting eligibility for certain deductions. “Personal use of corporate jets and other aircraft by executives and others have tax implications, and it’s a complex area where IRS work has been stretched thin,” IRS Commissioner Danny Werfel said in a statement....

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