Friday, December 02, 2005

IRS adjusts mileage rate to 44.5 cents

Today the Internal Revenue Service change the mileage deductible rate that workers can claim next year for using personal cars on business at 44.5 cents a mile. This rate is less than the temporary rate that the tax agency put in place for the last four months of this year, reflecting higher prices at gas pumps nationwide. The temporary rate is 48.5 cents a mile.

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