irs makes a decision.........(news)...


~^ beancounter ~^

IRS gives mileage rate a record boost of 8 cents

The IRS responded to the steep cost of gasoline by announcing on Friday
an unusual midyear change to the mileage rate used for business-expense
deductions. The standard mileage-rate deduction is jumping to 48.5
cents a mile for business miles driven from Sept. 1 through Dec. 31
from the 40.5 cent rate that will remain in effect for the first eight
months of the year, the agency said....


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