The Pay & Proxy Podcast: Corporate Aircraft Use - The Latest Trends & IRS Audit Plans


Brad Goldberg

Stewart Lapayowker

Brad Goldberg is a Partner at Cooley in New York City, whose practice includes counseling on SEC disclosure, corporate governance, and a range of matters relating to corporate aircraft and private plane use.

Stewart Lapayowker of Lapayowker Jet Counsel devotes his law practice to corporate aircraft transactions and is past chair of the National Business Aviation Association's Tax & Regulatory Committee.

With the Wall Street Journal reporting that personal use of corporate aircraft has "soared" in recent years and the IRS rolling out an "aircraft audit" initiative to evaluate whether companies have improperly deducted expenses for airplanes that were sometimes being used for personal travel, and whether individuals have properly recognized income relating to personal travel benefits, the time seemed ripe to address the latest developments in compliance and disclosure regarding personal use of corporate aircraft.

In this podcast, Brad Goldberg of Cooley and Stewart Lapayowker of Lapayowker Jet Counsel discuss:

  1. The demand for aircraft by corporations and executives, during and coming out of the pandemic
  2. Tax issues for companies and executives
  3. What we know about the IRS audit plans
  4. The complicating factors of commuting benefits and remote work
  5. The recent trend of individual executives or directors purchasing aircraft
  6. Related party transaction considerations when a company charters an executive or director's plane
  7. Confirming & improving your controls and record keeping

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The views set forth in the podcast are the speaker's personal views and do not necessarily reflect those of the academic institution or other committees & organizations with which he is associated.