Mileage Reimbursement Change
Wildsporty
283 Posts
I noticed that the IRS just updated the mileage from 50.5 to 58.5 cents per mile. It is about time with the gas prices the way they are.
The IRS has announced an increase in the optional standard mileage rates for the final six months of 2008 [IR-2008-82, 6-23-08; [url]www.irs.gov/newsroom/article/0,,id=184163,00.html][/url]. Citing "recent gasoline price increases," the IRS has increased the standard business mileage rate from 50.5 cents to 58.5 cents a mile for all business miles driven between July 1 and December 31, 2008. The rate for deductible medical or moving expenses is increased from 19 cents to 27 cents a mile. Note: The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.
Shirley
The IRS has announced an increase in the optional standard mileage rates for the final six months of 2008 [IR-2008-82, 6-23-08; [url]www.irs.gov/newsroom/article/0,,id=184163,00.html][/url]. Citing "recent gasoline price increases," the IRS has increased the standard business mileage rate from 50.5 cents to 58.5 cents a mile for all business miles driven between July 1 and December 31, 2008. The rate for deductible medical or moving expenses is increased from 19 cents to 27 cents a mile. Note: The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.
Shirley
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