Your Guide to Year-End 2023: Personal Use of a Company Car
ThomsonReuters
NOVEMBER 27, 2023
The ALV is determined according to a table as provided in IRS regulations (see Payroll Guide ¶3580 ). If the employer provides fuel in addition to the car, the value of the fuel must also be reported in addition to the value of the vehicle for federal income tax purposes. per mile for all miles driven. 8,750 ÷ 12 = $729.17
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