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Taxation of Employees’ Personal Use of Company Vehicles Simplified by 2020 and 2021 IRS Regulations and Guidance

Under IRS general rules, all use of a company car is considered personal use unless the employee documents the business use of the car. Personal use of a company vehicle

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2017 Personal Use of a Company Automobile

Dear Clients, According to IRS regulations, the personal usage of company cars by employees must be treated as taxable compensation income (and is subject to normal payroll taxes). In valuing

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