What is the current IRS gas mileage allowance for 2011?

Answer 1

News flash: The IRS just increased the rate to 58.8 cents per mile for business and 27 cents for moving and medical. This applies only to mileage traveled between July 1 and Dec. 31 of 2008. For the first half of 2008, the rates below apply. Charitable contributions still just 14 cents. For tax year 2008, it's 50.5 cents per mile for business use. The standard mileage rate is claimed in lieu of actual expenses of operation and depreciation of a vehicle. For use of your car on the job as an unreimbursed employee expense, the total of such expenses is an itemized deduction subject to the 2% of adjusted gross income floor. For medical-care-related use of auto or moving expenses, it's 20 cents a mile. For in-kind charitable contributions, the mileage rate is a whopping 14 cents. In recognition of increasing gasoline prices, the IRS has announced an increase in the optional standard mileage rates for the second half of 2008. The standard mileage rate for business miles driven from July 1, 2008, through December 31, 2008, will be 58.5 cents per mile, an increase of eight cents over the rate for the first half of the year. The standard mileage rate for medical and moving expenses has been increased to 27 cents per mile from 19 cents per mile. The standard mileage rate for charitable purposes, however, remains unchanged at 14 cents per mile. Rev. Proc. 2007-70, I.R.B. 2007-50, 1162, is modified.