Notice 2015-1 - Notice 2015–1

Notice 2015–1

Maximum Vehicle Values for 2015 for Use With Vehicle Cents-Per-Mile and Fleet-Average Valuation Rules

PURPOSE

This notice provides the maximum vehicle values for 2015 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.

MAXIMUM VEHICLE VALUES

The maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2015 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 $17,500 for a truck or van.

The maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2015 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 $22,900 for a truck or van.

EFFECTIVE DATE

This notice applies to employer provided passenger automobiles first made available to employees for personal use in calendar year 2015.

DRAFTING INFORMATION

The principal author of this notice is Don M. Parkinson of the Office of the Division Counsel/Associate Chief Counsel) (Tax Exempt & Government Entities). For further information on this notice contact Don Parkinson on (202) 317-4766 (not a toll-free number).