2024 IRS audits Archives - Bailey Scarano

IRS Increases Audits on Personal Use of Business Aircraft

The IRS is expanding its ongoing efforts to improve tax compliance in high income categories with dozens of audits on personal use of business aircraft. Focused primarily on large corporations, large partnerships and other high income taxpayers, they will scrutinize the allocation between business and personal use to ensure accuracy. “During tax season, millions of […]

Strategies to Tackle the Upcoming Surge in IRS Audits for Wealthy Taxpayers

Bailey Scarano Blog, Tax & Money Tips / By Bonnie Buol Ruszczyk

The Internal Revenue Service (IRS) is sharpening its focus on America’s wealthiest taxpayers, signaling a wave of increased audits, particularly targeting large partnerships. In light of this, it’s prudent for those within the IRS’s scope to reassess their tax filings, especially over the last three years, the typical statute of limitations for IRS audits. Scrutinizing

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