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IPFS News Link • Internal Revenue Service

Are Executives Abusing Corporate Jets? The IRS Wants to Know.

• By Ashlea Ebeling and Theo Francis

The Internal Revenue Service will begin auditing dozens of companies over the personal use of corporate jets by executives and other wealthy travelers. Millions of dollars of tax deductions are at stake.

The agency will start with three to four dozen audits of large corporations and partnerships, and audits of high-income individuals likely will follow, IRS Commissioner Danny Werfel said Wednesday.