IRS Intensifies Crackdown on Corporate Jet Tax Evasion

The IRS's new audit program targets misuse of corporate jets for personal travel, aiming to ensure fair tax compliance among wealthy executives and corporations.

• The IRS has launched a new audit program focusing on the personal use of corporate jets, aiming to curb tax evasion by wealthy executives and corporations.
• Funded by the 2022 Inflation Reduction Act, the IRS plans to use advanced analytics to identify misuse and ensure fair tax compliance.
• The initiative is part of a broader effort to modernize the IRS and improve enforcement, following years of underfunding and staffing shortages.
• Critics argue the move unfairly targets businesses that rely on corporate jets, while supporters see it as a step towards closing the tax gap.
• The program begins with dozens of audits, with the potential for expansion as the IRS hires more examiners and refines its strategies.

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