Final regulations increase a vehicle’s maximum value for eligibility to use the fleet-average valuation rule or the vehicle cents-per-mile valuation rule. The regulations provide transition rules for certain employers. The final regulations are effective on February 5, 2020, the date of publication in the Federal Register.
TCJA Increased Maximum Vehicle ValuesBefore the Tax Cuts and Job Act (TCJA) ( P.L. 115-97), the […]