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The IRS will pursue business private jet usage in a new round of audits on high-wealth taxpayers
Associated Press ^
| February 21, 2024
| Fatima Hussein
Posted on 02/21/2024 11:51:39 AM PST by Olog-hai
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To: Tell It Right
Usually, I like your posts, but who did you have in mind?
I have worked and saved hard to have my retirement be without income. I know that I wouldn’t appreciate an audit, though I don’t live in a cardboard box.
To: Olog-hai
Go after execs and celebrities who take private jets to Global Warming conferences.
22
posted on
02/21/2024 12:26:53 PM PST
by
Opinionated Blowhard
(When the people find that they can vote themselves money, that will herald the end of the republic.)
To: Zathras
>>Unless you are a RAT donor.
Or an illegal immigrant - for them, everything is free, there are no consequences, and no laws apply.
To: Empire_of_Liberty
I guess I should clarify. I meant people before retirement age who claim they're not making enough money to pay taxes, but are evidently living in nice homes and driving nice cars. The knowledge that only 45% of income earners pay income taxes bothers me, since I've paid income taxes since I was 18.
But if we're talking about things like Roth IRA withdrawals (non-taxable income) no audit needed. Like you, I've slowly positioned my wife and I to have little taxable income in retirement.
24
posted on
02/21/2024 12:31:25 PM PST
by
Tell It Right
(1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
To: Olog-hai
My time is so valuable, I should be able to deduct it as an expense anytime I use it. And don’t ask me to pay for any carbon offsets either. That’s only for the little people.
25
posted on
02/21/2024 12:37:19 PM PST
by
smokingfrog
( sleep with one eye open (<o> --- )
To: Olog-hai
IRS leadership said Wednesday that the agency will start conducting dozens of audits on businesses’ private jets...There are more than 10,000 corporate jets in the US., according to the IRS,...
They've got to show all those extra hires are being put to effective use.
26
posted on
02/21/2024 12:41:26 PM PST
by
AF_Blue
(My decision-making skills closely resemble those of a squirrel when crossing a road)
To: Nextrush
From what I’ve seen, Trump has had that all covered for years.
His jet is owned by one of his many companies: Trump Air (I think)
When he uses it for travel, the cost is billed to the business entity related to the travel: managing his properties; making campaign appearances, etc.
27
posted on
02/21/2024 12:44:43 PM PST
by
Alberta's Child
(If something in government doesn’t make sense, you can be sure it makes dollars.)
To: TermLimits4All
The article has to bring up the fact that the Tax Cuts and Jobs Act, passed during the Trump administration, allowed for 100% bonus depreciation and expensing of private jets ….
28
posted on
02/21/2024 12:46:52 PM PST
by
smokingfrog
( sleep with one eye open (<o> --- )
To: Olog-hai
The IRS will pursue business private jet usage in a new round of audits on high-wealth Republican taxpayers
29
posted on
02/21/2024 12:49:04 PM PST
by
PIF
(They came for me and mine ... now its your turn)
To: SkyDancer
30
posted on
02/21/2024 1:34:15 PM PST
by
mabarker1
( (Congress- the opposite of PROGRESS!!! A fraud, a hypocrite, a liar. I'm a member of Congress!!!)
To: Olog-hai
Impose carbon taxes on John Lurch Kerry, Mayor Bloomberg, AL Gore, Bill Gates, Bronco Bama, and Taylor Swift, based on their jet travel.
To save the planet, don’t you know.
31
posted on
02/21/2024 2:07:34 PM PST
by
grey_whiskers
( The opinions are solely those of the author and are subject to change without notice.)
To: Olog-hai
Teri Heinz probably owns the jet, IIRC.
32
posted on
02/21/2024 2:27:21 PM PST
by
ptsal
(Vote R.E.D. >>>Remove Every Democrat ***)
To: All
Would they come after me???
33
posted on
02/21/2024 2:29:30 PM PST
by
BipolarBob
(I aim to misbehave.)
To: BipolarBob
Is Trailer Swift farting into her microphone in that pic?
34
posted on
02/21/2024 2:30:14 PM PST
by
Sirius Lee
(Next week on The Bickersons... )
To: Olog-hai
Won’t this PO all Biden’s billionaire donors? Or are they making an exemption for travel to a climate change horror conference?
To: Olog-hai
Teri Heinz probably owns the jet, IIRC.
36
posted on
02/21/2024 3:38:31 PM PST
by
ptsal
(Vote R.E.D. >>>Remove Every Democrat ***)
To: Zathras
“Unless you are a RAT donor.”
Good point, they’ll find that 90% (at least) of their targets have made the proper donations to the DNC, so this is a big nothing.
37
posted on
02/21/2024 4:24:55 PM PST
by
BobL
(Trump gets my vote, even if I have to write him in; Millions of others will do the same)
To: Olog-hai
SEEMS to me that Taylor is TRAVELING between appearances.
SHE reports her income-—Her jet would be necessary to get to appearances.
To: I want the USA back
I’ve heard that - somewhere...
39
posted on
02/21/2024 5:29:05 PM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: Dan in Wichita
Has anyone committed FRAUD by over valuing their paintings?
40
posted on
02/21/2024 5:29:43 PM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
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