This definition appears very rarely
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See other meanings of SIFL
We have 4 other definitions for SIFL
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Samples in periodicals archive:
Thus it is eligible for much more favorable treatment, using the standard industry fare level (SIFL) rates published by the IRS semiannually in combination with Treasury regulations section 1.
Under prior law, a company was allowed a full deduction for such use if the employee recognized in income an amount based on a fair market value (FMV) or standard industry fare level (SIFL) value that generally was significantly less than the deduction claimed.
S properly determined the standard industry fare level (SIFL) value of each personal flight under Regs.
Many taxpayers used the Standard Industry Fare Level (SIFL) rates to determine the value of the personal-use flight under 1Kegs.
2001), the Eighth Circuit sided with the taxpayer, allowing it to deduct the full cost of operating a private plane, even though executives making personal use of the plane had only the much lower standard industry fare level (SIFL)-based amount included as compensation.
To compute the value of a flight, first multiply the number of miles flown by the standard industry fare level (SIFL), which is a cents-per-mile rate issued by the Department of Transportation (DOT).