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IRS increses mileage rates starting July 1st
TaxBrain
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6-30-2008 2:14 PM
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mileage
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f63332c2-c233-4287-8865-4da5103d713e/11FB132D-5F64-4196-8D2F-2B9872F983F3/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.vvdailypress.com/news/irs_7205___article.html/increase_mileage.html" href="http://www.vvdailypress.com/news/irs_7205___article.html/increase_mileage.html" style="font-size: 11px;">www.vvdailypress.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.vvdailypress.com/news/irs_7205___article.html/increase_mileage.html"><H1 class="marginMidSide">IRS to increase standard mileage rates by 8 cents</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.vvdailypress.com/news/irs_7205___article.html/increase_mileage.html"><P>WASHINGTON - The IRS has announced that there will be an increase to the standard mileage rates through the rest of this year.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.vvdailypress.com/news/irs_7205___article.html/increase_mileage.html"><P><BR />"Rising gas prices are having a major impact on individual Americans. Given the increase in gasoline prices, the IRS is adjusting the standard mileage rates to better reflect the real cost of operating an automobile," said IRS Commissioner Doug Shulman. "We want the reimbursement rate to be fair to taxpayers."</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.vvdailypress.com/news/irs_7205___article.html/increase_mileage.html"><P><BR /> An increase of eight cents will take place starting July 1. This will increase the 50.5 cent rate which was set for the first half of the year to 58.5 cents a mile for all business miles driven, according to reports.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.vvdailypress.com/news/irs_7205___article.html/increase_mileage.html"><P><BR /> There are three types of mileage rates - business, medical/ moving, and charitable.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.vvdailypress.com/news/irs_7205___article.html/increase_mileage.html"><P><BR /> Medical or moving expenses will also increase by 8 cents, though the charitable rate is set by statute, not the IRS, and will remain the same, said the IRS.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/11FB132D-5F64-4196-8D2F-2B9872F983F3/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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