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TREAS/IRS RIN: 1545-BP14 Publication ID: Spring 2019 
Title: ●Benefits Determination of Maximum Fair Market Value of a Vehicle That May Use the Fleet-Average and Vehicle Cents-Per-Mile Valuation Rules for Income and Employment Tax Purposes 

Sections 1.61-21(d) and (e) provide special valuation rules for employers to use in determining the amount to include in employee income for personal use of employer-provided vehicles. However, employers can only use these rules for vehicles with fair market values that do not exceed a certain amount. Consistent with changes made to the Code by section 13202(a)(1) of the Tax Cuts and Jobs Act, Pub. L. 115-97), these regulations increase the maximum fair market value of a vehicle that can use the section 1.61-21(d) and (e) special valuation rules for 2018 and subsequent years.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Other 
CFR Citation: 26 CFR 1.61-21(d) and (e)   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 61   
Legal Deadline:  None
Action Date FR Cite
NPRM  11/00/2019 
Additional Information: REG-101378-19 (NPRM) Drafting attorney: Gabriel Minc (202) 317-6175 Reviewing attorney: Lynne Camillo (202) 317-4769 Treasury attorney: Stephen LaGarde (202) 622-1352 CC:TEGE
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Gabriel J. Minc
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 4010,
Washington, DC 20224
Phone:202 317-4774