Posted on 02/21/2024 11:51:39 AM PST by Olog-hai
First, there were trackers on Taylor Swift and other celebrities’ private jet usage. Now, there will be more scrutiny on executives’ personal use of business aircraft who write it off as a tax expense.
IRS leadership said Wednesday that the agency will start conducting dozens of audits on businesses’ private jets and how they are used personally by executives and written off as a tax deduction — as part of the agency’s ongoing mission of going after high-wealth tax cheats who game the tax system at the expense of American taxpayers.
The audits will focus on aircraft used by large corporations and high-income taxpayers and whether the tax purpose of the jet use is being properly allocated, the IRS says.
“At this time of year, when millions of hardworking taxpayers are working on their taxes, we want them to feel confident that everyone is playing by the same rules,” IRS Commissioner Daniel Werfel said on a call with reporters to preview the announcement. Tax season began Jan. 29. […]
There are more than 10,000 corporate jets in the US., according to the IRS, valued at tens of millions of dollars and many can be fully deducted. …
(Excerpt) Read more at apnews.com ...
BTTT!!!
Taylor Swift had a chef from England flown to Australia to cook for her and that football gay er... guy Travis Kelce also has flown by private jet to Australia to pretend to be her boyfriend....
Found in quick search. He likes them earrings...
http://tinyurl.com/hb6emat7
Middle pic and the smile is too obvious.
Okay, then I will postpone purchase of private jet.
The question I have is flying to Davos(WEF) in a private jet a business expense? I don’t think so...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.