The Department of Transportation has released the applicable terminal charge and standard industry fare level (SIFL) mileage rates for July 1, 2014, through December 31, 2014. These rates will be used by the IRS to determine the value of noncommercial flights on employer-provided aircraft. The terminal charge is $46.25. The SIFL rates are $.2530 per mile for the first 500 miles; $.1929 per mile for 501 miles through 1,500 miles; and $.1855 per mile for miles over 1,500. (U.S. Department of Transportation, Attachment B, August 11, 2014.) For more information on this and other topics, consult the Visit our News Library.
SIFL rates issued for the second half of 2014
August 21, 2014 by