On 21 February 2024, the U.S. IRS announced plans to begin audits focused on aircraft usage by large corporations, large partnerships, and high-income taxpayers and whether the usage is being properly allocated between business and personal reasons for tax purposes. --- IRS begins audits of corporate jet usage; part of larger effort to ensure high-income groups don't fly under the radar on tax responsibilities IR-2024-46, Feb. 21, 2024 WASHINGTON — Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the Internal Revenue Service announced today plans to begin dozens of audits...