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Introduction

SECTION 3. PROCEDURE

Internal Revenue Bulletin 2012-3 · 2026-10-03 edition · updated 2026-10-04 · United States

.01 Maximum Automobile Value for Using the Cents-per-mile Valuation Rule. An employer providing a passenger automobile for the first time in calendar year 2012 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 $15,900 for a passenger automobile other than a tuck or van, or $16,700 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 regulation 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. 2010–10, 2010–3 I.R.B. 300, for guidance on determining the maximum value of passenger automobiles first made available during calendar year 2010, and Rev. Proc. 2011–11, 2011–4 I.R.B. 329, for guidance on determining the maximum value of passenger automobiles first made available during calendar year 2011.

.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 2012 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

V. EFFECT ON OTHER DOCUMENTS

Rev. Ruls. 2011–1 and 2008–40 are modified.

DRAFTING INFORMATION

The principal authors of this notice are Diane Bloom and Robert Walsh of the Employee Plans, Tax Exempt and Government Entities Division. For further information regarding this notice, please call the Employee Plans’ taxpayer assistance telephone service at 1–877–829–5500 (a toll-free number) between the hours of 8:00 a.m. and 4:30 p.m. Eastern Time, Monday through Friday, or at RetirementPlanQuestions@irs.gov .

26 CFR 1.61–21: Taxation of fringe benefits. (Also: Internal Revenue Code §§ 61, 280F.)

Rev. Proc. 2012–13

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▸Contents — Internal Revenue Bulletin 2012-3
Internal Revenue Bulletin 2012-3

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