IRS Targets Entertainment Use Of Business Aircraft

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The Department of Treasury earlier this month published a notice of proposed rulemaking relating to the use of business aircraft for entertainment, affecting "taxpayers that deduct expenses for entertainment, amusement or recreation provided to specified individuals." The notice will help clarify the definition of entertainment and would apply to any taxable year beginning on or after the date of publication of a Treasury decision adopting these rules as final regulations in the Federal Register. Written comments must be received by Sept. 13 and requests to speak at a public hearing scheduled for Oct. 25 must be received by Oct. 4.