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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

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 ...


TOPICS: Business/Economy; Constitution/Conservatism; Editorial; Front Page News; Government; Politics/Elections
KEYWORDS: defundirs; fourthamendment; illegalsurveillance; irs; privatejets
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To: Elsie

BTTT!!!


41 posted on 02/21/2024 5:38:33 PM PST by musicman (The future is just a collection of successive nows.)
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42 posted on 02/21/2024 10:30:37 PM PST by SunkenCiv (Putin should skip ahead to where he kills himself in the bunker.)
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To: Olog-hai

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

http://tinyurl.com/c5m42ch6

http://tinyurl.com/5n6f42vx


43 posted on 02/22/2024 6:33:48 AM PST by minnesota_bound (Need more money to buy everything now)
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To: minnesota_bound

Middle pic and the smile is too obvious.


44 posted on 02/22/2024 9:57:22 AM PST by Olog-hai ("No Republican, no matter how liberal, is going to woo a Democratic vote." -- Ronald Reagan, 1960)
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To: Olog-hai

Okay, then I will postpone purchase of private jet.


45 posted on 02/22/2024 1:07:19 PM PST by Bobbyvotes (MAGA all the way with PDJT!)
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To: Olog-hai

The question I have is flying to Davos(WEF) in a private jet a business expense? I don’t think so...


46 posted on 02/22/2024 1:20:37 PM PST by EVO X ( )
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