Maximum vehicle values for personal-use vehicles are issued

PErsonalVehicleThe IRS issued the 2016 inflation-adjusted amounts for the maximum vehicle values for purposes of determining the amount that is included in employees’ income for personal use of an employer-provided vehicle (Notice 2016-12). The limits for passenger vehicles are lower in 2016 than they were in 2015, but the values of vans and trucks increased slightly.

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