SECTION 7. CONTACT

INFORMATION

The principal authors of this revenue procedure are Matthew S. Cooper and Michael E. Hara of the Office of Associate Chief Counsel (Procedure and Administration). For further information regarding this notice, contact Mr. Cooper at (202) 622–4940 or Mr. Hara at (202) 622–4910 (not toll-free calls).

January 21, 2009 321 2009–3 I.R.B.

An employer providing a passenger automobile for the first time in calendar year 2009 for the personal use of any employee may determine the value of the personal use by using the vehicle cents-per-mile valuation rule in section 1.61–21(e) of the regulations if its fair market value on the date it is first made available does not exceed $15,000 for a passenger automobile other than a tuck or van, or $15,200 for a truck or van. If the fair market value of the passenger automobile exceeds this amount, the employer may determine the value of the personal use under the general valuation rules of regulations section 1.61–21(b) or under the special valuation rules of section 1.61–21(d) (Automobile lease valuation) or section 1.61–21(f) (Commuting valuation) if the applicable requirements are met. See Rev. Proc. 2007–11, 2007–1 C.B. 261, for guidance on determining the maximum value of passenger automobiles first made available during calendar year 2007, and Rev. Proc. 2008–13, 2008–6 I.R.B. 407, as modified by Announcement 2008–15, 2008–9 I.R.B. 511, for guidance on determining the maximum value of passenger automobiles first made available during calendar year 2008.

.02 Maximum Automobile Value for Using the Fleet-Average Valuation Rule.

An employer with a fleet of 20 or more automobiles providing an automobile for the first time in calendar year 2009 for the personal use of any employee for an entire year may determine the value of the personal use by using the fleet-average valuation rule in regulations section 1.61–21(d)(5)(v) to calculate the Annual Lease Values of the automobiles in the fleet. The fleet-average valuation rule may not be used to determine the Annual Lease Value of any automobile if its fair market value on the date it is first made available exceeds $19,900 for a passenger automobile other than a truck or van, or $19,900 for a truck or van. If all other applicable requirements are met, an employer with a fleet of 20 or more vehicles consisting of passenger automobiles other than trucks or vans as well as trucks and vans may use the fleet-average valuation rule as long as none of the vehicles exceed their respective maximum allowable values. If the fair market value of any passenger automobile in the fleet exceeds these amounts, the employer may determine the

dex (CPI). These components can decrease even when the overall CPI increases, as is the case for this year.