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Post details: Maximum Values Set Forth for Use of Vehicle Cents-Per-Mile Valuation (Rev. Proc. 2009-12)
01/21/09
Maximum Values Set Forth for Use of Vehicle Cents-Per-Mile Valuation (Rev. Proc. 2009-12)
CCH (cch.taxgroup.com) reports:
The IRS has set forth the maximum allowable values of employer-provided automobiles, including trucks and vans, first made available to employees for personal use in calendar year 2009 for which the vehicle cents-per-mile valuation rule of Reg. §1.61-21(e) and the fleet-average valuation rule of Reg. §1.61-21(d), may be applicable. The maximum value for use of the vehicle cents-per-mile valuation rule is $15,000 for a passenger automobile and $15,200 for a truck or van. The maximum value for use of the fleet-average valuation rule is $19,900 for a passenger automobile and $19,900 for a truck or van.
Rev. Proc. 2009-12, 2009FED ¶46,251
Other References:
Code Sec. 61
CCH Reference - 2009FED ¶1201.235
CCH Reference - 2009FED ¶1201.24
CCH Reference - 2009FED ¶5907.0325
CCH Reference - 2009FED ¶5907.033
CCH Reference - 2009FED ¶5907.80
Tax Research Consultant
CCH Reference - TRC COMPEN: 33,152.10
CCH Reference - TRC COMPEN: 33,154.05
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