IRS Releases Second Draft of 2025 Publication 15-B

A second draft of the 2025 federal employer’s tax guide to fringe benefits was released Dec. 4 by the Internal Revenue Service.

The second draft of the 2025 Publication 15-B, Employer’s Tax Guide to Fringe Benefits, adds a section on valuing personal use of employer-provided aircraft, which is a taxable fringe benefit. Flights can be valued using the fair charter value, which the draft describes as “the hourly rate that would be paid to charter a similar piloted aircraft from an unrelated party,” or the Standard Industry Fare Level rates published by the Transportation Department, the IRS said.

The SIFL ...