SECTION 5. EFFECTIVE DATE

This revenue procedure applies to automobiles (other than leased automobiles) that are first placed in service during calendar year 2001, to leased automobiles

mobiles first made available to any employee for personal use in calendar year 2001. The maximum fair market value specified in § 1.61–21(e)(1)(iii)(A) must therefore be multiplied by a factor of 0.2031, and the resulting increase, after rounding to the nearest $100, is added to $12,800 to give the maximum value for calendar year 2001.

(2) The Maximum Automobile Value . For automobiles first made available in calendar year 2001 to any employee of the employer for personal use, the vehicle cents-per-mile valuation rule may be applicable if the fair market value of the automobile on the date it is first made available does not exceed $15,400.

that are first leased during calendar year 2001, and to employer-provided automobiles first made available to employees for personal use in calendar year 2001.

DRAFTING INFORMATION

The principal author of this revenue procedure is Bernard P. Harvey of the Office of the Associate Chief Counsel (Passthroughs and Special Industries). For further information regarding the depreciation limitations and lessee inclusion amounts in this revenue procedure, contact Mr. Harvey at (202) 622-3110; for further information regarding the maximum automobile value for applying the vehicle cents-per-mile valuation rule, contact Ms. Lynne Camillo of the Office of the Associate Chief Counsel (Tax Exempt and Government Entities) at (202) 6226040 (not toll-free calls).

2001–9 I.R.B. 737 February 26, 2001

Voluntary Compliance on Alien Withholding Program

Rev. Proc. 2001–20

Offer to resolve issues arising from certain tax, withholding, and reporting obligations of public and other not-for-profit colleges and universities with respect to payments to alien individuals.

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