KPMG article: IRS’s personal use of business aircraft campaign
IRS plans to begin auditing the personal use of business aircraft with its business aircraft campaign
The IRS on February 21, 2024, announced plans to begin auditing the personal use of business aircraft with its business aircraft campaign. The campaign is part of the IRS’s ongoing efforts to improve tax compliance and will use funding from Pub. L. No. 117-169 (commonly called the “Inflation Reduction Act of 2022” or IRA).
Read an October 2024 article* prepared by KPMG LLP that focuses on the IRS’s initiatives in this area.
* This article originally appeared in Tax Notes Federal (October 28, 2024) and is provided with permission.