News
US DOT Releases SIFL Rates for 3Q & 4Q 2006
by Scott Burgess, released on Tuesday September 5, 2006
The U.S. Department of Transportation recently released Standard Industry Fare Level (SIFL) rates for the six-month period from July 1, 2006, to December 31, 2006. This information is necessary in order to apply the IRS's aircraft valuation formula to compute the value of non-business transportation aboard employer-provided aircraft and impute the income of the employee as required by the IRS Rules Section 1.61-21(g).
SIFL rates for the six-month period from July 1, 2006 to December 31, 2006, are:
MILEAGE RANGE AMOUNT PER MILE 0-500 miles $ 0.2071 501-1,500 miles $ 0.1579 over 1,500 miles $ 0.1518 Terminal Charge $ 37.85
|
