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According to the IRS website, http://www.irs.gov/taxpros/article/0,,id=156624,00.html) the standard mileage rate for 2007 was $.485. The amount for July 31 to Dec 31 of this year is $.585!
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What is the current IRS gas mileage allowance?
.55 per mile
Is the IRS going to reduce mileage reimbursement allowance given reduction in gas prices?
That would not be unreasonable
What is included in the IRS mileage allowance Specifically is the cost od Insurance premiums included in that number?
All costs associated with the vehicle, gas, oil, wear and tear and insurance are accounted for in the mileage allowance.
When will the 2008 federal mileage allowance be increased to compensate for the rise in gas prices?
On 6/23/08, the IRS increased mileage reimbursement for privately owned automobiles to 58.5 cents.
What is 2009 IRS gas mileage rate?
The 2009 IRS gas mileage rate is 58.5 per mile.
What are the elements included in the Federal Gas mileage Allowance?
The IRS mileage allowance includes all expenditures for gas, maintainance, repair, insurance and any other cost that may be associated with operating a vehicle. So if one claims the standand mileage expense, then receipts such as for gas, new tires, etc., cannot also be claimed. The taxpayer can, however, claim depreciation expense on the vehicle.
What is the breakdown of the current IRS gas mileage allowance?
51 cents per mile It is now 50 cents per mile for 2010 income taxes
What is the national average for corporate compensation for gas mileage?
The IRS as of Jan 2008 considers 50.5 cents per mile the National Average, Corporate doesn't deserve to get more for their gas allowance than does the average worker.
What is the gas reimbursement for mileage in the state of Missouri?
Gas mileage reimbursement in any state in the USA changes each year according to the IRS rules. In 2007, the reimbursement rate is 48.5 cents per mile, up from 44.5 cents in 2006.
Can you take the difference off taxes between what the IRS pays for gas mileage and what your company pays?
You can in the UK
What is the current IRS gas mileage for 2012?
.555 is the current reimbursement rate if you are using your own car.
What is the gas mileage of a 2007 Ford Mustang?
230 miles
