IRS Mileage Rates Going Up

With the freakish increase in gas prices, it only makes sense that the IRS gets moving and ups irs mileage allowance

They are increasing the irs mileage rate from 50.5 cents per mile to 58.5 cents per mile. The increased irs mileage rates covers miles driven from July 1, 2008, through Dec. 31, 2008. That looks to be a 16% increase. And gas prices have increased over 50%, what a great deal! Yes that is sarcasm you are reading. This just looks to be one more way that we have to carry cost increases on our shoulder while the government provides little help.

Obviously the Mileage Reimbursement is only for people that drive for work or use their vehicle for things other than personal driving, but please make a note of it since you can be losing out on a couple of bucks if you are still expenseing at the 50.5 cents rate.

And due to the great idea to have a .005 on milage, make sure you always drive an even number of miles to get that extra .005 back! These days, you should take everything you can get!