Thursday, September 15, 2005

Mileage rates increase -- sort of

A follow up to an earlier post on The Locker Room ( --

"In recognition of recent gasoline price increases," the Internal Revenue Service has just raised the standard mileage allowance for business travel from 40.5 cents to 48.5 cents per mile. (,,id=147423,00.html)

"This is about fairness for taxpayers,” said IRS Commissioner Mark W. Everson. “People are entitled to deduct the real cost of operating a vehicle. We’ve responded to the recent gas price increases by making this special adjustment so taxpayers get the tax benefit they deserve.”

Volunteers who travel on behalf of non-profit organizations and charities will continue to enjoy the 14 cent per mile rate in effect since at least 2000 ( ); it is "set by statute, not the IRS", as the current press release points out.




1 comment:

adhd said...

Hi, I was just blog surfing and found you! If you are interested, go see my attention deficit hyperactivity disorder related site. It isnt anything special but you may still find something of interest.