OrbitaxU.S. IRS Begins Audits of Corporate Jet Usage
|Approved Changes|United States
On 21 February 2024, the U.S. IRS announced plans to begin audits focused on aircraft usage by large corporations, large partnerships, and high-income taxpayers and whether the usage is being properly allocated between business and personal reasons for tax purposes.
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IRS begins audits of corporate jet usage; part of larger effort to ensure high-income groups don't fly under the radar on tax responsibilities
IR-2024-46, Feb. 21, 2024
WASHINGTON — Using Inflation Reduction Act funding …