Overview

• 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.