Finance, Taxes, Insurance
IRS Stepping Up Scrutiny on Personal Bizjet Use
NBAA's Bolen calls audits attempt to paint corporations with negative brush
IRS Building Exterior
© Curt Epstein/AIN

The IRS is planning to launch “dozens” of audits on business aircraft use to ensure tax compliance in high-income categories, the agency announced this week. Audits will focus on whether large corporations, partnerships, and high-income taxpayers are properly allocating between personal and business use for tax purposes.

Using additional funding received from the Inflation Reduction Act, the IRS said it plans to “closely examine this area, which has not been closely scrutinized during the past decade as agency resources fell sharply.” The agency further stated that the number of audits in this area could increase, depending on initial results and as it spools up on hiring additional examiners.

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