Alerts2.28.24
IRS Announces Audits Related to Personal Use of Business Aircraft
Highlights
The IRS announced a special enforcement emphasis for corporate and private jet usage
With this IRS campaign, increased audit activity is expected
Aircraft owners and operators should consider taking steps to ensure compliance with IRS requirements
The IRS recently issued a news release announcing a special enforcement emphasis on corporate jet usage, including those owned by high-income individuals. Owners and operators of aircraft should anticipate enhanced IRS scrutiny, including an increased likelihood of audit activity for individuals and companies using corporate aircraft, regardless of prior compliance history.
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