IRS Mileage Rate
On June 23, 2008, the IRS announced that it would raise the standard rate for deducting business vehicle operating costs to 58.5 cents per mile.
The agency cited the high cost of gasoline as the reason for the rate increase.1
Fast Facts
- Previous rate: 50.5 cents per mile
- New rate: 58.5 cents per mile
- Recommended standard deduction for business vehicles
- Cited the high cost of gasoline as the reason for adjustment1
- Deduction for medical or moving expenses: 27 cents per mile
- Previous rate: 19 cents per mile
- Rate for providing services to charitable organizations: 14 cents per mile
- This last rate is adjusted by Congress
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