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.
Update:
IR-2010-119, Dec. 3, 2010
Corrected on Dec. 13, 2010, to reflect changes for 2011
WASHINGTON - The Internal Revenue Service today issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Independent contractor Runzheimer International conducted the study.
A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle.
In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously. The IRS is requesting public comments on whether taxpayers should be allowed to use the business standard mileage rate in this circumstance.
Beginning in 2011, a taxpayer may use the business standard mileage rate for vehicles used for hire, such as taxicabs.
Also beginning in 2011, the standard mileage rates are announced in a separate notice, which also provides the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate and the maximum standard automobile cost for automobiles under a FAVR allowance. The IRS plans to discontinue publishing the standard mileage rate revenue procedure annually but will publish modifications as required.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
Revenue Procedure 2010-51 and Notice 2010-88 contain additional details regarding the standard mileage rates.
IRS stated reimbursement is 40.5 per mile your employer can pay you less but tax time is IRS amount
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.
That would not be unreasonable
.555 is the current reimbursement rate if you are using your own car.
Gas mileage reimbursement depends on the company that you work not, not the state you live in. Not all companies reimburse gas for mileage used so contact a supervisor to find out your companies rate.
What is the mational average for gas mileage reimbursement in MD
Gas reimbursement amounts are determined by the Internal Revenue Service. The gas mileage reimbursement in 2014 is 56 cents per mile.
Most companies will reimburse employees for their gas and mileage if traveling for work. The IRS reimburses gas as well at 56 cents per mile in 2014.
On 6/23/08, the IRS increased mileage reimbursement for privately owned automobiles to 58.5 cents.
Gas mileage reimbusement in every state in the USA is the same, changing each year according to the IRS rules. In 2007, the reimbursement is 48.5 cents per mile, up from 44.5 cents in 2006. Also, the reimbursement includes the cost of operating your vehicle, not just the gas.
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gas mileage reimbursement for Colorado"What is the most recent federal gas reimbursement rate" in Colorado?