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IRS ISSUES NEW RATES FOR VALUING FLIGHTS ON COMPANY AIRCRAFT
September 21, 2007
The IRS this week announced the new "Standard Industry Fare Level" (SIFL) rates for the second half of 2007 (Rev. Rul. 2007-55). Companies use these rates to determine how much income employees must report when they use a company aircraft for personal purposes. You can find details of how to do the computation here.
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