2017 Values for Employer-Provided Vehicles Released
The IRS has released the maximum vehicle values for 2017 that taxpayers need to determine the value of personal use of employer-provided vehicles under the IRS’s special valuation rules.
2017 Maximum Vehicle Values
- The maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2017, for which the vehicle cents-per-mile valuation rule provided under IRS Regulation section 1.61–21(e) may be applicable, is $15,900 for a passenger automobile, and $17,800 for a truck or van.
- The maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2017, for which the fleet-average valuation rule provided under IRS Regulation section 1.61–21(d) may be applicable, is $21,100 for a passenger automobile, and $23,300 for a truck or van.
Click here to read the IRS release on the 2017 maximum vehicle values.
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