IRS Begins Audits of Corporate Jet Usage

Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the IRS announced plans to begin dozens of audits on business aircraft involving personal use by executives, partners, shareholders, and others for tax purposes. According to the IRS, the level of personal use impacts eligibility for certain […]

Tax News Update | April 2024

“Isn’t it appropriate that the month of tax begins with April Fool’s Day and ends with cries of May Day!” ~Rober Knauerhase Instructors  James Hockenberry, EA – Jim is the President of Back to Basics Income Tax Seminars and has over 31 years of experience in income tax and financial planning. He is an Enrolled […]