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Old 11-27-2007, 06:43 PM
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IRS increases Auto Mileage Rate for the Year 2008

The latest news from the IRS regarding Auto Mileage rate is that beginning tax year 2008, the optional standard mileage rates are increased as follows for the 3 allowable categories as shown below:

* 50.5 cents per mile for business miles driven;
* 19 cents per mile driven for medical or moving purposes; and
* 14 cents per mile driven in service of charitable organizations.

For more information please visit the IRS site below:
IRS Announces 2008 Standard Mileage Rates; Rate for Business Miles Set at 50.5 Cents per Mile

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