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IRS Standard Mileage Rates Up (But Not for Charity)  


Author:  Staff Editors.


Source: Volume 07, Number 05, July/August 2008 , pp.16-16(1)




Family Foundation Advisor

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Abstract: 

By now, everyone is aware of the rising price of gasoline and its impact on the cost of living. The IRS has noticed this too, and has reacted with Announcement 2008- 63, 2008-28 IRB 1, modifying Revenue Procedure 2007-70, 2007-50 IRB 1162. This Announcement attempts to provide some relief for taxpayers, by increasing the optional standard mileage rates used to compute deductible costs of operating automobiles.

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