President Biden announced that he will focus on ending tax breaks for corporate aircraft and “cracking down on corporate jet loopholes.”
Several aviation and labor organizations, including the National Business Aviation...more
The Internal Revenue Service (IRS) is increasing audits on corporate aircraft use for high-net-worth individuals, large corporations and complex partnerships as part of its new initiative using Inflation Reduction Act funding...more
Notice 2020-23 generally provides taxpayers until July 15, 2020 to perform certain time-sensitive actions in response to the COVID-19 pandemic.
Notice 2020-23, released on April 9, 2020, provides taxpayers who are...more