August 27, 2012
Finally: IRS’ Final Regs for Entertainment Use of Business Aircraft Deductions
– Broc Romanek, CompensationStandards.com
As noted in these memos posted in our “Airplane Use” Practice Area, the IRS has finally issued final regs concerning the deductibility of expenses associated with personal use of corporate aircraft – which may have implications for executive compensation disclosures, as well as for those who must apply the rules to prepare federal income tax returns.