New IRS audit campaign prepares to take flight

The recent announcement by the Internal Revenue Service (IRS) Large Business and International (LB&I) Division regarding a new audit campaign on personal use of business aircraft has brought attention to the numerous tax issues surrounding this topic.

Navigating the complex tax rules and maintaining accurate records creates challenges for owners, employers, and individuals who use the aircraft for personal travel. Our Tax Controversy & Dispute Resolution practice at KPMG has decades of experience assisting clients through the audit process, including reviewing and responding to IRS inquiries in this area.

Download to see a description of the numerous tax issues that may be raised by corporate ownership of aircraft and to find the KPMG resources that can assist you with navigating through those issues successfully.