Service Provides Benefit Valuation Rates For Flights on Employer-Provided Aircraft

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The Internal Revenue Service in Revenue Ruling 2012-27, scheduled for publication Oct. 9 in Internal Revenue Bulletin 2012-41, announced the cents-per-mile rates and terminal charges in effect for the second half of 2012, to be used in valuing noncommercial flights on employer-provided aircraft and taxing the value as a fringe benefit.