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Holland & Knight LLP

IRS Announces New Campaign to Audit Personal Use of Business Jets

Holland & Knight LLP on

The IRS announced a new campaign to audit high-net-worth taxpayers claiming business deductions for the use of private jets. Using some of the $80 million allocated for enhanced enforcement in the Inflation Reduction Act of...more

Husch Blackwell LLP

Increased IRS Scrutiny on Use of Personal and Business Aircraft

Husch Blackwell LLP on

On February 21, 2024, the Internal Revenue Service (IRS) announced plans to conduct dozens of audits on the use of business aircraft by large corporations, partnerships, and high-income individuals as part of its “campaign”...more

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