IRS Releases 2017 Values for Employer-Provided Vehicles

Values Apply to Vehicles First Made Available to Employees for Personal Use in Calendar Year 2017

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 special valuation rules provided under IRS regulations.

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.