The Internal Revenue Service has issued a notice describing the maximum vehicle values for 2017 that taxpayers need for determining the value of personal use of employer-provided vehicles under the Income Tax Regulations’ special valuation rules.
Notice 2017-03 applies to employer-provided passenger automobiles first made available to employees for personal use in calendar year 2017 under section 1.61–21 (d) and (e) of the Income Tax Regulations.
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