IRS Announces Maximum Values of Employer-Provided Vehicles for 2014
Notice 2014-11; 2014-13 I.R.B. 880
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Areas/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2014-6757
- Tax Analysts Electronic Citation2014 TNT 56-10
Modified by Notice 2014-48
This notice provides the maximum vehicle values for 2014 that taxpayers need to determine the value of personal use of employer-provided vehicles under the special valuation rules provided under section 1.61-21(d) and (e) of the Income Tax Regulations.
MAXIMUM VEHICLE VALUES
The maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2014 for which the vehicle cents-per-mile valuation rule provided under Regulation section 1.61-21(e) may be applicable is $16,000 for a passenger automobile and $17,300 for a truck or van.
The maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2014 for which the fleet-average valuation rule provided under Regulation section 1.61-21(d) may be applicable is $21,300 for a passenger automobile and $22,600 for a truck or van.
EFFECTIVE DATE
This notice applies to employer provided passenger automobiles first made available to employees for personal use in calendar year 2014.
DRAFTING INFORMATION
The principal author of this notice is Don M. Parkinson of the Office of the Division Counsel/Associate Chief Counsel (Tax Exempt & Government Entities). For further information on this notice contact Don Parkinson on (202) 317-4766 (not a toll-free number).
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Areas/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2014-6757
- Tax Analysts Electronic Citation2014 TNT 56-10