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.
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.
This notice applies to employer provided passenger automobiles first made available to employees for personal use in calendar year 2014.
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