Emily Lam

Feb 27, 2024 | jdsupra.com | Page Griffin |Shalom Huber |Emily Lam

On February 21, 2024, the Internal Revenue Service (IRS) announced1 plans to commence a focused audit effort targeting private aircraft usage by dozens of large corporations, large partnerships and high-income individual taxpayers to investigate whether, for tax purposes, the use of the aircraft is properly allocated between business and personal use.