Rev. Rul. 2020-21, page 882.

Fringe benefits aircraft valuation formula. For purposes of section 1.61-21(g) of the Income Tax Regulations, relating to the rule for valuing non-commercial flights on employer-provided aircraft, the Standard Industry Fare Level (SIFL) centsper-mile rates and terminal charge in effect for the second half of 2020 are set forth.

T.D. 9915, page 882. These final regulations provide guidance regarding allocation of the rehabilitation credit over a 5-year period, as the rehabili

Finding Lists begin on page ii.

tation credit is no longer fully allowed in the taxable year that a qualified rehabilitated building is placed in service. These final regulations include rules to coordinate with the other special rules for investment credit property. These final regulations affect taxpayers that claim the rehabilitation credit. This guidance relates to changes made to the applicable law by the Tax Cuts and Jobs Act, which was enacted on December 22, 2017