February 10, 2021

Procedures for Reporting the Taxable Value of Personal Use of Employer-Provided Vehicles and Chauffeur Services for Tax Year 2020

Procedures for Reporting the Taxable Value of Personal Use of Employer-Provided Vehicles and Chauffeur Services for Tax Year 2020
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On January 21, 2021, the Office of the State Comptroller issued Payroll Improvement Project Bulletin No. 1852.1 to inform agencies of the procedures and provide instructions for reporting the taxable value of personal use of an employer-provided vehicle and chauffeur services in the New York State Payroll System (PayServ) for tax year 2020.  This bulletin supersedes Payroll Bulletin 1852.

Due to the ongoing COVID-19 pandemic, IRS (Internal Revenue Service) Notice 2021-07 provides temporary relief for employers and employees using the automobile lease valuation to determine the value of an employee’s personal use of an employer provided automobile.

 

read the full bulletin