IRS Ramping Up Tax Audits Of Private Jet Use In Latest Enforcement Crackdown

The IRS is increasing scrutiny of corporate aircraft use in a bid to ensure personal use of business jets is sufficiently accounted for and taxed.

A private jet is seen on the tarmac at Friedman Memorial Airport ahead of the Allen & Company Sun Valley Conference in Sun Valley, Idaho on July 4, 2022. Kevin Dietsch/Getty Images

The Internal Revenue Service (IRS) said it’s using some of its recent $60 billion funding boost to crack down on improper accounting of personal use of business jets in a bid to squeeze more revenue from wealthier taxpayers.

The IRS said on Feb. 21 that, as part of its ongoing efforts to boost tax compliance in high-income categories, it’s planning to launch dozens of tax audits involving personal use of business aircraft.