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What is the breakdown of the current IRS gas mileage allowance?
Wiki User
∙ 13y ago
51 cents per mile
It is now 50 cents per mile for 2010 income taxes
Wiki User
∙ 13y ago
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What is 2009 IRS gas mileage rate?
The 2009 IRS gas mileage rate is 58.5 per mile.
Is mileage reimbursement for an executor of an estate taxable?
No it is not considered taxable. As long as the reimbursement meets the current IRS standards, it is not considered income.
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 IRS clothing allowance per month for a family of four?
Per IRS Allowable Living Expense National Standards chart effective 04/02/2012, $244 for a family of four. It actually says "Apparel & services."
If you are current with your bankruptcy payments will the IRS keep your income tax check?
No
What is the current IRS gas mileage allowance?
.55 per mile
What is the IRS mileage allowance for large trucks?
.55 cents per mile
What is the current IRS meal allowance?
$31.00 per day
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.
What is the current IRS gas mileage for 2012?
.555 is the current reimbursement rate if you are using your own car.
IRS gas mileage allowance for 2007?
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!
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 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 2009 IRS gas mileage rate?
The 2009 IRS gas mileage rate is 58.5 per mile.
Is mileage reimbursement for an executor of an estate taxable?
No it is not considered taxable. As long as the reimbursement meets the current IRS standards, it is not considered income.
Does a job have to pay you gas money by law if you drive your own car?
Usually, an employer will request that you record your mileage when performing business functions. The mileage is then multiplied by the current IRS standard mileage rate and an expense check is issued on payday. The current IRS standard mileage rate (2007) is 48.5 cents per mile driven for business purposes. This is, of course, optional for your employer. The employer does not necessarily have to utilize the current mileage rate or reimburse you. Review your previous tax return and you'll notice a section for unreimbursed mileage. I recommend discussing the issue further with your HR representative to better determine what methods of reimbursement,if any, exist in your company.
