US tax officials have launched a campaign to audit executives’ personal use of corporate jet flights as spending on aircraft perks for chief executives hits record levels.
The Internal Revenue Service said on Wednesday that it was preparing “dozens” of audits of large corporations, partnerships and high-income taxpayers to see if their use of jets had been properly designated for business or personal reasons.
The IRS said it had not given the issue close scrutiny for about 10 years because it had lacked the resources to do so, but that had changed after the Inflation Reduction Act of 2022 allocated $80bn to the agency over the next 10 years.
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