IRS Auditing WHAT?!

(RightIsRight.co) – After getting some funds from Democrats the IRS is stepping up to check on corporate jet use more closely.

They’re looking at wealthy people who might be using these jets for personal trips but claiming them as business costs. Commissioner Danny Werfel said the IRS hasn’t been able to look into this much before because they didn’t have enough money. But, with more funds from Democrats in 2022, they’re now ready to do more audits.

Werfel explained, “Personal use of corporate jets and other aircraft by executives and others have tax implications, and it’s a complex area where IRS work has been stretched thin. With expanded resources, IRS work in this area will take off.”

This focus isn’t new. People have been talking about the tax breaks for private planes, especially after the changes in Trump’s 2017 tax laws. The IRS allows businesses to deduct costs for keeping a corporate jet, but they need to be careful to not include personal trips.

Werfel is pretty sure that some wealthy taxpayers are not following the rules. He said, “We are adding staff and technology to ensure that the taxpayers with the highest income, including partnerships, large corporations and millionaires and billionaires, pay what is legally owed under federal law,” promising more actions like this to come.

He’s also trying to make sure the IRS keeps the extra funds it got, even though some Republicans want to take it back. He argues the money is needed to chase down big tax dodgers.

Werfel has promised that people making less than $400,000 won’t see more audits than they did back in 2018, which was already a low year for audits. Back then, the IRS hardly audited people making between $50,000 and $200,000 at all. This was a big change from 2010, when people in this income range saw more audits.