This week’s highlights include updates from IRS Bulletin 2026-16, covering the annual Advance Pricing Agreement report and revised SIFL rates for valuing employer-provided aircraft benefits.
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The Internal Revenue Bulletin (IRB) is the authoritative instrument for announcing official rulings and procedures of the IRS and for publishing Treasury Decisions, Executive Orders, Tax Conventions, legislation, court decisions, and other items of general interest.
ADMINISTRATIVE
Announcement 2026-8, page 813.
This Announcement is issued pursuant to § 521(b) of Pub. L. 106-170, the Ticket to Work and Work Incentives Improvement Act of 1999, which requires the Secretary of the Treasury to report annually to the public concerning Advance Pricing Agreements (APAs) and the Advance Pricing and Mutual Agreement Program (APMA Program), formerly known as the Advance Pricing Agreement Program (APA Program). This twenty-seventh report describes the experience, structure, and activities of the APMA Program during calendar year 2025.
INCOME TAX
Rev. Rul. 2026-8, page 812.
Fringe benefits aircraft valuation formula. For purposes of section 1.61-21(g) of the Income Tax Regulations, relating to the rule for valuing non-commercial flights on employer-provided aircraft, the Standard Industry Fare Level (SIFL) cents per-mile rates and terminal charge in effect for the first half of 2026 are set forth.