In a National Law Journal article published on June 26, 2024, Jay R. Nanavati and Nikhil Lahiri explain how a recent privacy law surrounding private jet flights will not prevent the IRS from following through on its pledge to scrutinize private aircraft usage by “large corporations, large partnerships, and high-income taxpayers.”
As Jay and Nikhil write, “Flush with Inflation Reduction Act funding, the IRS will employ new data analytics tools to initiate audits of taxpayers’ private plane use, a sharp turnaround after a decade of bare-bones funding and reduced enforcement.”
Access the webpage version of the article here.
