IRS Begins Audits of Business Aircraft Use by Joseph Leocata, JD, CPA, MBA
Posted on April 17, 2024 by Joseph Leocata
The IRS has begun auditing the use of corporate jets to ensure taxpayers properly allocate business use from personal use for tax purposes. These efforts are part of the agency’s larger strategic plan to increase audit enforcement and improve tax compliance among large corporations, partnerships and high-net-worth individuals. Under current law, businesses may deduct certain […]
